If non- payers cannot be excluded from consuming a good this gives rise to the:
A) pubic good problem
B) free rider problem
C) private good problem
D) fallacy of composition problem
Correct Answer:
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Q17: When the marginal social cost of the
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Q19: Externalities are a problem only if:
A) decision
Q20: A situation where all individual markets are
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Q23: Public goods are characterised by being non-
Q24: An external cost of production will occur
Q25: If an external cost arises in the
Q26: Environmentally harmful effects often tend to be
Q27: Social efficiency occurs when:
A) unemployment is low
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