A good is considered nonrival-in-consumption if
A) many individuals can share in the consumption of the same unit of the good.
B) the consumption of the good by one individual lowers the amount available for others.
C) even nonpaying customers can receive the full benefit from the good.
D) its production is financed through tax revenue rather than market prices.
Correct Answer:
Verified
Q117: Markets fail when externalities are present
A) because
Q118: If consumption of education creates an external
Q119: A government passes a new law allowing
Q120: Externalities cause the market mechanism to allocate
Q121: A good that is both nonexcludable and
Q123: When external benefits are present in a
Q124: When the free-rider problem exists,
A) the market
Q125: In a competitive market, if the production
Q126: A free-rider problem exists when a good
Q127: Because of the free-rider problem,
A) competitive markets
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