Consider a Non-Rivalrous Good,like National Defence,provided by the Government

question 16

Multiple Choice

Consider a non-rivalrous good,like national defence,provided by the government.At the socially optimal level of provision of this good,the marginal

• A)cost of production of this good is zero.
• B)cost of production of the last unit of the good is equal to the consumers' marginal willingness to pay.
• C)sacrifice society needs to make to supply the last unit of the good is more than each consumer's marginal willingness to pay.
• D)cost of production of the last unit of the good is more than all consumers' combined marginal willingness to pay.
• E)cost of production of the last unit of the good is equal to all consumers' combined marginal willingness to pay.

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Definitions:

Polarization

The process or phenomenon where a population or group becomes divided into opposing factions, often leading to heightened tensions and conflict based on differing beliefs, values, or ideologies.

Responsiveness

The quality of responding quickly and positively, or the ability of an organism or system to adjust to changes in conditions.

Synchrony

The simultaneous occurrence, operation, or action of two or more things.

Timing

The selection of the precise or opportune moment to perform an action, which can greatly affect the outcome of an event.