An Efficient Amount of a Public Good Is Unlikely to Be

question 53

Multiple Choice

An efficient amount of a public good is unlikely to be produced in a free market because

• A)there is no way to prevent a person who is not willing to pay for the good from receiving benefits from the good.
• B)of the high cost of producing the public good.
• C)social benefits exceed social costs.
• D)of the existence of moral hazard.
• E)of the existence of adverse selection.

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Definitions:

Adjunct

Something added to another thing but not an essential part of it, often referring to a non-tenure-track teaching position or faculty.

Female New Hire

A woman who has recently been employed by an organization, indicating a fresh addition to the workforce.

Expected Frequencies

Predicted counts in each category of a contingency table assuming no association between variables.

Chi-Square Test

A statistical test used to determine the likelihood of an observed distribution occurring by chance.