Some Public Goods Would Not Be Provided Without Government Intervention

question 161

Multiple Choice

Some public goods would not be provided without government intervention because:

• A) the marginal cost of the good exceeds an individual's marginal benefit.
• B) the marginal cost of the good is less than an individual's marginal benefit.
• C) the socially optimal price of the good would be zero (i.e., there is no chance of making a profit).
• D) the marginal cost of the good exceeds an individual's marginal benefit and the socially optimal price of the good would be zero (i.e., there is no chance of making a profit).

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Definitions:

Marketing Planning Process

A systematic approach to identifying opportunities, defining objectives, and developing strategies and plans to market products or services successfully.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, often summarized as the four Ps: product, price, place, and promotion.

Evaluate Using a Matrix

A method of assessment involving the organization of factors or options in a grid to aid in decision-making and analysis.

Positioning Strategy

A marketing approach that aims to establish a brand or product in a specific niche or market segment, making it stand out from competitors.