Public goods face the

A) principle of rival consumption.
B) free-rider problem.
C) law of overproduction.
D) exclusion principle.


B

Economics

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The fact that a monopoly has to take the shapes of marginal cost AND marginal revenue into account when making decisions is reflected in the fact that

A) monopolies don't have a supply curve. B) monopolies don't have a demand curve. C) monopolies have the same supply curve as perfectly competitive firms. D) monopolies maximize profit.

Economics

One of the basic innovations of the first phase of the industrial revolution was (the)

A. automobile. B. computer. C. steam engine. D. wheel.

Economics

The principal econometric techniques used in measuring demand relationships are:

a. the standard deviation b. regression c. correlation analysis d. the coefficient of determination e. both b and c

Economics

Although tacit collusion can enhance the price-setting power of the participating firms, it can also result in greater efficiency in production, which also benefits society

Thus, it is not immediately clear, a priori, when tacit collusion actually hurts or helps consumers. Indicate whether the statement is true or false

Economics