A public good is one for which:

Question

Quizplus · Accepted Answer

The definition of a public good includes that the marginal cost of adding another consumer is zero. Option A is incorrect because public goods are non-excludable, meaning that consumers cannot be excluded from using the good even if they do not pay for it. Option C is incorrect as divisibility and measurability are not defining characteristics of public goods. Option D is incorrect as public goods can have external costs (e.g. pollution from a public park).

A Public Good Is One for Which