A Lighthouse

question 156

Multiple Choice

A lighthouse

• A)can project a light that simultaneously benefits many ships that pass.
• B)is a service that is always provided by the government.
• C)provides the feature of rivalry in the consumption of light.
• D)can easily exclude ships from using its light if the ship owners do not pay.
• E)can easily charge its users for the services provided.

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Definitions:

Vertical Axis

A method used in graphing to represent the dependent variable or measure outcomes across a range of values.

Optimum

Optimum refers to the most favorable condition or level for growth, reproduction, or efficiency.

Good Y

An unspecified product or commodity referred to generically to discuss economic theories or principles.

Good X

A term typically used in economics to denote a specific commodity or product in theoretical models and discussions.