A Private Good

question 17

Multiple Choice

A private good:

• A) is a good for which consumption involves perfect rivalry.
• B) is completely nonexcludable.
• C) is often provided by the government.
• D) imposes a negative externality when it is consumed by any one individual.

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Definitions:

Confidence Interval

A span of values calculated from sample statistics, which is likely to embody the value of a hidden population parameter.

Mean

A measure of central tendency which is calculated by adding up all the values in a data set and then dividing by the number of values.

Population Standard Error

The standard deviation of the distribution of a sample mean over multiple samples from the same population.