Consider the Following Code Snippet

question 102

Multiple Choice

Consider the following code snippet. Which of the following statements about this code is correct?

• A)This code will read in a word at a time from the input file.
• B)This code will read in a line at a time from the input file.
• C)This code will read in the entire input file in one operation.
• D)This code will read in a character at a time from the input file.

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Definitions:

Coase Theorem

A principle that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of rights.

Free-Rider Problem

A situation where some individuals consume more than their fair share of a public resource, or shoulder less of the cost of its production.

Public Good

A good that is both non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.

Property Rights

Legal rights to own, use, and manage assets or property.