A private good
A) Is consumed by one person and excludes consumption by others.
B) Experiences free riders.
C) Results in market failure when provided in markets characterized by laissez faire.
D) Is provided most efficiently by the government.
Correct Answer:
Verified
Q1: Any imperfection in the market mechanism that
Q2: Market failure implies that the market mechanism
A)Leads
Q4: Government intervention may be appropriate to correct
Q5: The most desirable combination of output attainable
Q6: Resources are directed from one industry to
Q7: The optimal mix of output is the
Q8: The optimal mix of output is always
Q9: When market failure occurs,the role of government
Q10: Which of the following is a source
Q11: In a market economy,producers will produce the
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