If a good is a public good,
A)anyone can be excluded from enjoying its benefits.
B)no one can be excluded from enjoying its benefits.
C)consumers must pay a high price to enjoy its benefits.
D)it is rival and excludable.
E)economies of scale exist over the entire range of output for which there is a demand.

Question

Quizplus · Accepted Answer

A public good is a good that is non-excludable and non-rivalrous, meaning that no one can be excluded from enjoying its benefits and consumption by one person does not reduce its availability to others. This is why public goods are often provided by the government since it would be difficult for private companies to earn a profit from producing them. Examples of public goods include national defense, public parks, and street lighting.

If a Good Is a Public Good