When a good is nonrivalrous in consumption, then:
a. consumption by an additional individual will significantly reduce the benefits derived by others from a public good.
b. individuals who refuse to pay for a public good cannot be excluded from benefiting from it
c. consumption by an additional individual does not prevent others from benefiting from a public good.
d. individuals who refuse to pay for a public good can be excluded from benefiting from it.
c
You might also like to view...
In goods markets ________ and in factor markets ________
A) households sell to firms; firms sell to households B) firms sell to households; households sell to firms C) households sell to firms; households sell to firms D) firms sell to households; firms sell to households
The average total cost curve is U-shaped. At the quantity of output where average total cost is at its minimum, is the marginal cost curve above the average total cost curve, below the average total cost curve,
or intersecting the average total cost curve?
What is the average cost per unit for producing 3 units?
a. 200 b. 260 c. 70 d. 110
When the government runs deficit, it causes the cost of borrowing to:
A. increase, which decreases private demand for loanable funds. B. decrease, which decreases private demand for loanable funds. C. increase, which increases private demand for loanable funds. D. decrease, which increases private demand for loanable funds.