Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 15 - Public Goods and Public Choice - Exercises - 15.2 Private Goods with External Benefits - Page 353: 2.1

Answer

private external

Work Step by Step

Fire extinguisher is privately owned but benefits all in the prevention of a fire spreading and causing excess damage. So a fire extinguisher is an example of a $\textbf{private}$ good with an $\textbf{external}$ benefit.
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