Which of the Following Would Most Likely Be a Public

question 78

Multiple Choice

Which of the following would most likely be a public good?

• A) Sirius Satellite Radio is accessed through a subscription.
• B) iTunes sells songs through their website.
• C) a Mariah Carey CD
• D) Michigan Radio is the state's most listened-to public radio service.

---

Definitions:

Product Variety

The range of different products or services offered by a company or available in a market, catering to diverse customer tastes and needs.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it.

Monopolistically Competitive

A competitive framework where numerous companies offer goods that are alike but not the same, leading to competition revolving around quality, price, and brand recognition.

Purely Competitive

An economic setup distinguished by the presence of numerous small companies, an identical product, and extremely simple processes for entering or leaving the market.