A characteristic of a public good is
A) rival consumption.
B) the exclusion principle.
C) the free-rider problem.
D) clear property rights.
Answer: C
You might also like to view...
Classify each of the following goods on the basis of the characteristics of excludability and rivalry in consumption giving appropriate reasons: a) A lighthouse b) A pair of shoes c) A paid Web site d) A congested non-toll road
What will be an ideal response?
Data on wages, education, and many other characteristics of the population that are available to anyone who wants to use it are called:
A) private-use data. B) public-use data. C) primary data. D) secondary data.
Suppose the price of soda is $2 each and the price of a pizza slice is $4 each. Jean maximizes utility and buys only sodas and slices of pizza. If the price of a soda increases to $3 each, Jean's marginal utility per soda
A) will increase and she'll buy more soda. B) will decrease and she'll buy fewer sodas. C) will decrease and she'll buy more pizza. D) Both B and C are correct.
Using Scenario 1 what is the maximum grade you could earn in any one course? If you wanted to earn a grade of 90 in French but no better than a 70 in economics are you operating on your budget constraint? Why or why not?
What will be an ideal response?