A very large museum could accommodate many more visitors than it does without reducing the enjoyment of the visitors if it did not charge such a high price for admission.Visits to the museum are a(n):
A)private good.
B)public good.
C)common resource.
D)artificially scarce good.

Question

Quizplus · Accepted Answer

The museum charges a high price for admission, which limits access to what could otherwise be a non-excludable service. This makes visits to the museum an artificially scarce good, as the scarcity is created by the pricing strategy rather than by the nature of the good itself.

A Very Large Museum Could Accommodate Many More Visitors Than