Public goods are
A) under provided by the private market because the marginal cost of production is too high.
B) under provided by the private market because the marginal benefits of consumption are too low.
C) under provided by the private market because people's willingness to pay for the good is less than the marginal benefit of the good.
D) over provided by the private market because the marginal benefits of consumption are too high.
C
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Refer to the scenario above. If the players have to pay a fairness penalty of $6, ________
A) the game will not have a Nash equilibrium B) the game will have multiple Nash equilibria C) the game will have multiple dominant strategy equilibria D) the game will have a unique Nash equilibrium
We say that goods are complements when they:
A. serve similar-enough purposes that a consumer might purchase one in place of the other. B. are consumed together, so that purchasing one will make a consumer more likely to purchase the other. C. can replace something consumers typically purchase at a significantly lower price. D. change a consumer's preferences for a good or service.
When the U.S. dollar depreciates in relation to the Swiss franc:
a. a U.S. importer will need more dollars to pay for an invoice denominated in Swiss francs. b. a Swiss exporter will receive more Swiss francs for an invoice denominated in the exporter's currency. c. Swiss imports of U.S. goods will fall. d. the Swiss franc is now worth less in terms of the U.S. dollar. e. a U.S. exporter will receive fewer dollars for an invoice denominated in Swiss francs.
Which of the following is an example of frictional unemployment?
A. Recent graduate looking for a job. B. A mother is searching for a job and the kid has gone to college C. New Yorker moved to California. (WA) D. Computer program who turned down a job offer expect better job. E. All