The Pennsylvania Turnpike Is a Tolled Freeway Running Through the State

question 126

Multiple Choice

The Pennsylvania Turnpike is a tolled freeway running through the state of Pennsylvania. Motorists must pay tolls at various points along the Turnpike based on the distance they traveled on the freeway. Suppose that despite the tolls, many motorists in the urban areas use the Turnpike causing traffic to slow during peak times. What type of good would the Turnpike be classified as in this case?

• A)Private good
• B)Club good
• C)Common resource
• D)Public good

Recognize the importance of committed staff time for successful social media marketing.

Understand the trade-offs in costs between social media marketing and traditional marketing approaches.

Understand the elements and design of a brand experience.

Identify types of content and content strategies in social media marketing.

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Definitions:

Increasing Returns

The situation in which output increases by a larger proportion than the increase in inputs used in production.

Workers

Individuals who perform tasks or work for compensation, typically within the structure of employment by organizations or companies.

Marginal Product

The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.

Total Product

The total quantity of output produced by a firm from a given quantity of inputs during a certain period of time.