A Professional Football Game Played in a Completely Full Stadium

question 55

Multiple Choice

A professional football game played in a completely full stadium is NOT a public good because it is

• A) nonexcludable and nonrival.
• B) excludable and nonrival.
• C) excludable and rival.
• D) nonexcludable and rival.
• E) not supplied by the government.

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Definitions:

Dormitories

Residential facilities provided by educational institutions for students to live in.

Implicit Costs

The opportunity costs that arise from using resources that could have been employed in an alternative use but were instead utilized in the current operation without direct payment.

Explicit Costs

Direct, out-of-pocket payments for goods and services used in the production of a product or provision of a service.

Accounting Profit

The difference between total monetary revenue and total monetary costs, excluding the consideration of opportunity costs.