Governments Usually Build Highways Because It Is Difficult to Exclude

question 109

Multiple Choice

Governments usually build highways because it is difficult to exclude individuals who don't pay for the highways from using them.What type of market failure is involved?

• A)Inequity.
• B)Public goods.
• C)Externalities.
• D)Market power.

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Definitions:

Defining a Problem

The process of identifying and articulating an issue or challenge that needs to be addressed or solved.

Build a Better Mousetrap

An idiom suggesting the act of innovating or creating superior products or solutions to existing ones.

Get Rid of Mice

The process or methods employed to eliminate mice from an environment, often involving traps, poison, or exclusion techniques.

Decision Environment

The context, including all relevant information and factors, within which decisions are made.