When Someone Enjoys the Benefit of a Good or Service

question 104

Multiple Choice

When someone enjoys the benefit of a good or service but does not pay for it,that person

• A) is a free range consumer.
• B) is a free rider.
• C) receives no marginal benefit from the good.
• D) must be consuming an excludable good.
• E) is contributing to the tragedy of the commons.

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Definitions:

Weighted Average

An average that accounts for the different weights or importance of certain factors or quantities in the dataset.

Sample Variances

Sample variances measure the dispersion or spread of data points in a sample around their sample mean, indicating the degree of variation within the sample.

Expected Value

The long-run average value of repetitions of the experiment it represents, known in statistics as the mean of the probability distribution.

Sample Means

Sample Means are the averages calculated from a sample, used as estimates of the population mean.