Examlex

Solved

The Following Information Is for a Public Good

question 129

Multiple Choice

The following information is for a public good.Pa and Pb are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it.These people are the only two members of society.If this good were a private good instead of a public one, the total quantity demanded at a $3 market price would be: The following information is for a public good.P<sub>a</sub> and P<sub>b</sub> are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it.These people are the only two members of society.If this good were a private good instead of a public one, the total quantity demanded at a $3 market price would be:   A) 2 units. B) 3 units. C) 6 units. D) 4 units.


Definitions:

Valuable Employee

An individual whose work performance, skills, or contribution significantly benefits their employer.

Liquidated

The process of converting assets into cash or paying off debts in the context of a business winding up or bankruptcy.

Unliquidated

An obligation or debt that has not yet been determined, quantified, or settled.

James-Lange theory

A theory of emotion that suggests that emotions occur as a result of physiological reactions to events.

Related Questions