A Public Good Will

question 98

Multiple Choice

A public good will:

• A) be efficiently provided by the free market as long as its total benefits exceed its total costs.
• B) be efficiently provided by the free market as long as its marginal benefits exceed its marginal costs.
• C) be provided in less than efficient quantities by the free market.
• D) be provided in efficient quantities by voluntary contributions.
• E) not be provided by the government.

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Definitions:

George Miller

A cognitive psychologist best known for his theory that the capacity of human memory is approximately seven items, plus or minus two.

State Capital

The city or town that functions as the administrative seat of government for a state.

Semantic Memory

A type of long-term memory involving the capacity to recall words, concepts, or numbers, which is essential for the use and understanding of language.

Chunk

A meaningful unit of information; it may be composed of smaller units.