The Golden Gate Bridge Is Not a Pure Public Good

question 5

Multiple Choice

The Golden Gate bridge is not a pure public good because

• A)the bridge is not a non-depletable good.
• B)the bridge is non-depletable.
• C)the free rider problem could be solved by using tolls.
• D)the marginal cost of another car crossing the bridge is zero.

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Definitions:

Goods and Services

Physical items (goods) and intangible benefits (services) that fulfill human wants or needs.

Factors of Production

Resources used in the production of goods and services, traditionally categorized as land, labor, capital, and entrepreneurship.

Circular-Flow Diagram

An illustrative depiction of the economy, highlighting the movement of currency among firms and households within different markets.

Goods and Services

Products and activities that fulfill the needs or desires of consumers, with goods being tangible objects and services being intangible activities.