In the Case of a Good That Has No Exclusion

question 73

Multiple Choice

In the case of a good that has no exclusion and no rivalry,private markets fail because

• A) of free-ridership.
• B) this is a natural monopoly.
• C) profit is driven down to zero.
• D) the quantity produced will exceed the social optimum.

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Definitions:

Kairouan

A city in Tunisia, significant in Islamic history as a major center of Islamic scholarship and Quranic learning, hosting one of the oldest mosques in North Africa.

Suleyman the Magnificent

The tenth and longest-serving Sultan of the Ottoman Empire, ruling from 1520 to 1566, known for expanding the empire’s territory and implementing significant legal and cultural reforms.

Ottoman Court

This term refers to the central government and imperial household of the Ottoman Empire, which was a major political and cultural hub in the Middle East, Southeast Europe, and North Africa from the late 13th century until the early 20th century.

Mosque of Selim II

An Ottoman imperial mosque in Edirne, Turkey, known for its architectural innovation and grand dome, designed by architect Mimar Sinan.