The Following Table Shows the Costs and Benefit of Producing

question 90

Multiple Choice

The following table shows the costs and benefit of producing a commodity.Table 13.1

-Which of the following is not a problem with a public good?

• A)An incentive to free-ride
• B)A public good is often underconsumed
• C)An absence of private property rights
• D)An inability to limit consumption to those who purchase the good
• E)A public good is usually underproduced

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Definitions:

Largest Source

Refers to the main or biggest origin of something, such as the largest source of revenue for a business or the largest source of pollution in an area.

Sales Tax

A tax levied on the cost (at retail) of a broad group of products.

Basic Source

Refers to the primary or fundamental origins of information or data used in research and analysis.

Property Tax

A tax on the value of property (capital, land, stocks and bonds, and other assets) owned by firms and households.