A Free-Rider Problem Exists When a Good That Has the Following

question 18

Multiple Choice

A free-rider problem exists when a good that has the following characteristic?

• A) Rivalry in consumption.
• B) Elastic demand.
• C) Inelastic demand.
• D) Nonexcludable.

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Definitions:

Medicaid Program

A joint federal and state program that helps with medical costs for people with limited income and resources.

Poor People

Individuals or groups who lack sufficient financial resources to meet basic living expenses such as food, shelter, and healthcare.

Uninsured

refers to individuals or entities that lack insurance coverage, potentially exposing them to financial risk in the face of unexpected losses or health issues.

Economists

Professionals who study, develop, and apply theories and concepts from economics, and write about economic policy.