The Free Rider Problem Arises When a Good Is _______

question 71

Multiple Choice

The free rider problem arises when a good is _______ and the tragedy of the commons arises when a good is ________________.

• A)nonexcludable; both rival and nonexcludable
• B)rival; both rival and nonexcludable
• C)both rival and nonexcludable; rival
• D)both rival and nonexcludable; excludable

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Definitions:

Gatekeeper

An individual or entity that controls access to something, such as information or resources, often acting as a barrier to entry or exit.

Itemization

A method of pricing a funeral in which every item of service, facility, and transportation is listed with its related cost. This is the method mandated by the Federal Trade Commission.

Funeral Costs

The expenses associated with conducting a funeral service, including but not limited to, the casket, service fees, burial or cremation, and other associated costs.

Federal Trade Commission

A United States government agency established to prevent anticompetitive business practices, consumer deception, and unfair methods of competition.