The two main characteristics of a public good are
A) production at constant marginal cost and rising demand.
B) nonexcludability and production at rising marginal cost.
C) nonrivalry and nonexcludability.
D) nonrivalry and large negative externalities.

Question

Quizplus · Accepted Answer

Public goods are characterized by nonrivalry, meaning one person's consumption of the good will not diminish its availability to someone else, and nonexcludability, meaning it is difficult or impossible to exclude people from using the good once it is produced.

The Two Main Characteristics of a Public Good Are