A nonexcludable public good is
A. nonrivalrous in consumption.
B. rivalrous in consumption.
C. asymmetric.
D. a good for which it is impossible (or prohibitively costly) to exclude someone from receiving the benefits of its services.
E. a and d
Answer: E
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We know that people tend to overuse common resources. This problem can be viewed as an example of
a. a game in which the players succeed in reaching the cooperative outcome. b. the prisoners' dilemma. c. a situation to which game theory does not apply because of a lack of strategic thinking. d. a situation to which game theory does not apply because of too many decision-makers.
Which of the following is true?
A) Most stockholders own stock because they want to run the business. B) The shareholders of a large well-established firm are guaranteed to earn a real rate of return of about seven percent in the future. C) Ownership of a corporate bond provides the bondholder with an ownership right to a fraction of the firm's future profits. D) Stock ownership makes it possible for investors to own a fractional share of a firm's future profits even if they do not participate in the operation of the firm.
The growth rate of output per person in the economy is called
A. factor growth. B. labor productivity growth. C. per-capita output growth. D. output growth.
In perfect competition, a profit-maximizing business will expand until its marginal cost equals the market price.
Answer the following statement true (T) or false (F)