Which of the following is true?
a. The nature of public goods is such that the government cannot accurately assess the benefits of those affected.
b. National defense and flood control are illustrations of public goods
c. Just as in the case of external costs, public goods tend to be underprovided by the private sector.
d. All of the above are true.
d
You might also like to view...
If the price elasticity of demand for peanut butter is 2.4, then peanut butter
A) has an elastic demand. B) has an inelastic demand. C) has a unit elastic demand. D) is a normal good.
What do economists mean when they state that investment is spending on “goods for the future”?
Please provide the best answer for the statement.
A monopolistically competitive firm ________ where marginal revenue equals marginal cost.
A. minimizes average total cost B. minimizes average variable cost C. maximizes revenues D. maximizes profits
Brand management refers to
A) the efforts to maintain the differentiation of a product over time. B) selling the right to use a brand name in a particular market. C) picking a brand name for a new product that will attract attention. D) efforts to reduce the cost of production.