Which of the following is true of a public good? Oa. The amount of the public good that will be provided for by the market will be smaller than what would be economically efficient. O b. The public good has the feature of it that is called an externality, but it is always negative. The public good has the feature known as non-rivalry, so that if you use it, it is still there Oc. for me to use it. Od. A and C are both correct.
Which of the following is true of a public good? Oa. The amount of the public good that will be provided for by the market will be smaller than what would be economically efficient. O b. The public good has the feature of it that is called an externality, but it is always negative. The public good has the feature known as non-rivalry, so that if you use it, it is still there Oc. for me to use it. Od. A and C are both correct.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Explain it correctly.
Not copy paste anything from anywhere.
Transcribed Image Text:Which of the following is true of a public good?
Oa.
The amount of the public good that will be provided for by the market will be smaller than
what would be economically efficient.
O b. The public good has the feature of it that is called an externality, but it is always negative.
The public good has the feature known as non-rivalry, so that if you use it, it is still there
Oc.
for me to use it.
Od. A and C are both correct.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education