A Private Good Is a Good or Service for Which

question 160

Multiple Choice

A private good is a good or service for which exclusion:

• A) is possible and for which marginal cost of an additional user is zero.
• B) is possible and for which marginal cost of an additional user is positive.
• C) cannot be applied and for which marginal cost of an additional user is zero.
• D) cannot be applied and for which marginal cost of an additional user is positive.

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Definitions:

Systematic Observation

A structured method of data collection where the observer follows a strict protocol to record behavior or phenomena, minimizing bias.

Experimentation

The process of conducting a controlled test or investigation to explore hypotheses, observe effects, and gain new knowledge, commonly used in scientific research, product development, and process improvement.

Performance Standards

Benchmarks or criteria used to assess the quality or effectiveness of an individual's work, guiding expectations and evaluations in organizational contexts.

Quality

The degree to which a product, service, or process meets specified requirements and satisfies customer expectations.