If It Is Impossible,or Highly Costly,to Prevent Consumers from Consuming

question 135

Multiple Choice

If it is impossible,or highly costly,to prevent consumers from consuming a good when they have not paid for it,the good is called

• A) nonexcludable.
• B) public.
• C) private.
• D) nonrival.
• E) common.

---

Definitions:

Industry Structure

The characteristics and organization of an industry, including the number of firms, level of competition, and market dominance.

Antitrust Laws

Legislation designed to promote fair competition for the benefit of consumers, preventing monopolies and promoting a competitive market environment.

U.S. Steel Case

A landmark antitrust case involving the United States Steel Corporation which tested the antitrust laws and monopolistic practices in the early 20th century.

Sherman Act

A foundational antitrust law in the United States that prohibits monopolistic practices and promotes competition.