If a Good Has a Marginal Cost of Production of Zero

question 157

Multiple Choice

If a good has a marginal cost of production of zero and an inefficiently low level of consumption,the good must be a(n) :

• A)private good.
• B)public good.
• C)common resource.
• D)artificially scarce good.

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Definitions:

Standard Deviation

A quantification of how much a group of values diverges or spreads out.

Confidence Interval

An expanse of measurable outcomes, derived from sample analysis, foreseen to incorporate the hidden value of a population attribute.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values from their mean.

Confidence Interval

A range of values, derived from sample data, that is likely to include the value of an unknown population parameter.