(Bonus Question) What result can we expect to see when goods are nonexcludable? A Consumers demand a higher quantity than they would if they had to pay for what they consumed. B Consumers demand a lower quantity than they would if they had to pay for what they consumed. Firms supply a lower quantity than they would if they incurred the full costs of the provision of the good. Firms supply a higher quantity than they would if they had to pay for what they supplied.

(Bonus Question) What result can we expect to see when goods are nonexcludable? A Consumers demand a higher quantity than they would if they had to pay for what they consumed. B Consumers demand a lower quantity than they would if they had to pay for what they consumed. Firms supply a lower quantity than they would if they incurred the full costs of the provision of the good. Firms supply a higher quantity than they would if they had to pay for what they supplied.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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