When goods are not excludable
a. the good will be produced as a private good but not as a public good. b. the good will not be
produced since no one values it.
c. the free-rider problem prevents the private market from
supplying them.
d. everyone can have all they want and the good will have a zero price.
I was thinking about b or d.
Hmmmm, I guess "none of the above" is an acceptable answer. If that's the case, I would go with d)
Consider and example of a non-excludable good. Consider a street where someone plants a bunch of flowers. The beauty of the flowers can be enjoyed by anybody, no price can be charged by anybody looking at the flowers. So: People as well as governments and civic associations plant such flowers. So the good often is a public good. Scratch a). The flowers exist, they are planted. Scratch b). While the planting produces benefits to those besides the planter, the private market still provided the good. So, scratch c).
Finally, I would wish the planter would plant even more flowers. So, in this sense, I am not getting all I want. Scratch d)?? (alternatively, once the planter selects and plants his flowers, I can enjoy this fixed amount as much as I want at a zero price. So, in this sense, d) would be correct.
Sorry, I wanted to write, 'I guess "none of the above" is NOT and acceptable answer.'
Based on your explanation and understanding, it seems like Option d) everyone can have all they want and the good will have a zero price might be the most suitable answer.
When a good is non-excludable, it means that it is difficult, if not impossible, to prevent individuals from using or benefiting from the good. In this case, the free-rider problem arises, which means that individuals can enjoy the benefits of the good without contributing towards its production or maintenance.
In the example of the flowers planted on a street, anyone can enjoy their beauty without paying anything. Therefore, everyone can have as much of this non-excludable good as they want without a price attached to it, hence zero price.
However, it is worth noting that while this may be the case for non-excludable goods, it does not necessarily mean that everyone will have all they want of the good. The level of supply and demand, along with other factors, can still influence the availability of the good and the satisfaction of individual preferences.
So, based on the given options, d) everyone can have all they want and the good will have a zero price seems to be the closest option to the concept of non-excludable goods.