Which of These Is NOT a Characteristic of a Public

question 20

Multiple Choice

Which of these is NOT a characteristic of a public good?

• A) The consumption of the good does not reduce the utility for others who would consume the good.
• B) It is not feasible or practical to exclude potential consumers once the good has been produced.
• C) It is a good, like a park pass, that a government entity sells to those who want the good.
• D) It is a good, like a river levee, that residents of the area may not want to pay to construct.

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Definitions:

Marginal Products

The additional output that is produced by adding one more unit of a specific input, holding all other inputs constant.

Separating Equilibrium

An outcome in a signaling game where different types of senders choose different signals, leading to a situation where the receiver can perfectly infer the sender's type based on the signal received.

Low-productivity Workers

Employees who produce less output than the average worker within a certain period.

Utility Function

Describes the relationship between the quantities of goods consumed and the level of satisfaction or utility derived from those goods by a consumer.