If a Good Is a Public Good

question 54

Multiple Choice

If a good is a public good,

• A)anyone can be excluded from enjoying its benefits.
• B)no one can be excluded from enjoying its benefits.
• C)consumers must pay a high price to enjoy its benefits.
• D)consumers pay a low price.
• E)economies of scale exist over the entire range of output for which there is a demand.

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Definitions:

College Students

Individuals enrolled in an institution of higher education, pursuing undergraduate or postgraduate degrees.

Cable TV Ads

Advertisement placements on cable television channels aimed at reaching specific demographics through targeted content.

Promotional Mix

The combination of marketing strategies used by a business, including advertising, sales promotion, public relations, personal selling, and direct marketing, to achieve its marketing goals.

Product Life Cycle

The progression of a product through different stages from introduction to growth, maturity, and decline, affecting marketing, production, and financial strategies.