The free rider problem causes goods not to be produced when
A) the opportunity cost of providing them is low.
B) the quantity supplied is greater than the quantity demanded.
C) they can't be produced by government.
D) they can't be provided exclusively to the people who pay for them.
D
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Assume that you are in charge of an agrarian colony of an European nation. What are the different extractive policies which can be adopted to maximize the wealth of the home nation?
What will be an ideal response?
Refer to Figure 4.8. If half of your friends go to the beach and half go to the park, you will receive the highest payoff by
A) going to the park. B) going to the beach. C) You will receive the same payoff whether you choose the beach or the park. D) You cannot determine your highest payoff from the data in the figure.
If the market in the figure above is perfectly competitive, consumer surplus is the area ________
A) ABH B) BFGH C) ACG D) BCD E) ACE
In November 2008, the Fed began its first round of quantitative easing. In total, the Fed conducted ________ rounds of quantitative easing before ending the program in October 2014
A) 2 B) 3 C) 4 D) 5