The Quantity of a Public Good Supplied by a Private

question 40

Multiple Choice

The quantity of a public good supplied by a private market is

• A) smaller than the efficient quantity.
• B) equal to the efficient quantity.
• C) larger than the efficient quantity.
• D) the quantity that maximizes total public benefit.

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Definitions:

Resources

Inputs used in the production of goods and services, including labor, capital, and natural resources.

Exchange Rate

How much one currency is worth in terms of another during exchange.

Euros

The official currency of 19 of the 27 European Union countries, known as the Eurozone.

Corn Laws

A series of laws in the 19th century Britain that imposed restrictions and tariffs on imported grain to protect domestic grain producers.