Suppose that a firm plans to provide defense against asteroidsstriking the earth. Which of the following is TRUE?
A) Most people will find it in their self-interest to pay the firm to protect the earth.
B) Asteroid protection is a private good, so the firm will make a lot of profit.
C) In case of an earth bound asteroid, the firm will not protect people who refused to pay for asteroid defense.
D) Most people will not pay a firm for asteroid defense.(True Answer ) Correct
Correct Answer:
Verified
Q1: Table: Example Goods A Watermelon A Lighthouse
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A) nonrival and nonexcludable.
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