If a good is excludable and nonrival,
a. a private market will provide too much of it
b. a private market will provide the good
c. a private market will not provide the good
d. neither a private market nor a government will provide the good
e. only a government will provide the good
B
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An example of a short-run fixed factor of production is
A) capital equipment. B) labor. C) electricity. D) postage for mailing.
If autonomous expenditure increases with no change in the price level, what happens to the AE curve and the AD curve? Which curve shifts by an amount that is determined by the multiplier and why?
What will be an ideal response?
One of the key reasons why monopolies exist is:
A. there is easy entry and exit into and out of the market. B. the goods sold are highly inaccessible to buyers. C. geographical differences. D. there are barriers to entry into the market.
Economists sometimes call zero economic profit a ______ rate of return.
a. natural b. negative c. normal d. neutral