A good or service that is characterized by nonrivalry in consumption and nonexcludability is called a(n)
A) free good.
B) economic good.
C) public good.
D) private good.
E) noneconomic good.
Correct Answer:
Verified
Q9: The free-rider nature of a good prevents
Q10: A public good exhibits nonrivalry in consumption
Q11: Information has the features of a(n)
A)exclusive good.
B)public
Q12: Consumption of a public good has the
Q13: A private firm would have difficulty producing
Q15: A producer cannot at low cost exclude
Q16: Private markets do not provide national defense
Q17: The aspect of a good in which
Q18: Federal, state, and local governments would be
Q19: A free-rider problem occurs when
A)people who pay
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