In the Market for a Public Good, the Equilibrium Quantity

question 65

Multiple Choice

In the market for a public good, the equilibrium quantity of the good produced is too low because:

• A)society does not want more to be produced.
• B)a public good is an example of a negative externality.
• C)the benefits of the good are not fully internalized by the producer.
• D)a public good is a good consumed by the government.

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Definitions:

Role Playing

is the act of adopting roles and characters different from oneself, often used as a training tool or entertainment.

Attitude Change

The process by which an individual's feelings, beliefs, or behaviors towards an object, person, or idea are modified.

Cognitive Dissonance

Feelings of discomfort resulting from holding contradictory beliefs, ideas, or values at the same time in one's mind.

Attitudes

Mental and emotional entities that inherit positive or negative evaluations of objects, people, or events, influencing an individual's behavior.