When something of value has no price attached to it,
A)externalities will be present.
B)the product cannot be produced at any price.
C)a natural monopoly will eventually produce the product, and the good will no longer be free.
D)private companies will eventually produce the product, and the good will no longer be free.

Question

Quizplus · Accepted Answer

When a good or service of value has no price attached to it, it is called a "free" good. This often leads to the presence of externalities, which are costs or benefits incurred by a third party that are not reflected in the market price. For example, a park may be free to use, but the cost of maintaining it is not reflected in the price of visiting the park. This can lead to overcrowding, littering, and other negative externalities that are not accounted for.

When Something of Value Has No Price Attached to It