If the Government Does Not Provide It, the Quantity of a Nonexcludable

question 141

Multiple Choice

If the government does not provide it, the quantity of a nonexcludable good that private firms will choose to produce is

• A)zero.
• B)more than the optimal amount.
• C)the optimal amount.
• D)optimal only if property rights are assigned.
• E)optimal only if the industry is competitive.

---

Definitions:

Grievance Arbitration

Grievance arbitration is a procedure for resolving disputes between employees, represented by unions, and employers concerning the interpretation or application of a collective bargaining agreement.

Mass Manufacturing

The production of large quantities of standardized products, often using assembly line techniques and machinery.

Economic Markets

Systems or environments within which parties engage in exchange of goods, services, or information.

Business Flexibility

The ability of a company to adapt quickly and efficiently to changes in its external environment, including market demands, technology, and regulatory shifts.