If a Good Is a Public Good

question 45

Multiple Choice

If a good is a public good,

• A)anyone can be excluded from enjoying its benefits.
• B)no one can be excluded from enjoying its benefits.
• C)consumers must pay a high price to enjoy its benefits.
• D)it is rival and excludable.
• E)economies of scale exist over the entire range of output for which there is a demand.

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Definitions:

Associative Network

A theory that describes how ideas, images, and thoughts are linked together in the mind, creating a web of interconnected knowledge.

Accessible Schemas

Cognitive structures that hold knowledge and beliefs about specific subjects or experiences, which can be quickly and easily retrieved.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing their behaviors, thoughts, and feelings.

Immediate Environment

The surrounding physical and social context in which an individual is currently situated.