The Two Main Characteristics of a Public Good Are

question 176

Multiple Choice

The two main characteristics of a public good are

• A) production at constant marginal cost and rising demand.
• B) nonexcludability and production at rising marginal cost.
• C) nonrivalry and nonexcludability.
• D) nonrivalry and large negative externalities.

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Definitions:

Continental Association

Was a system created by the First Continental Congress in 1774 for implementing a trade boycott with Great Britain, aiming to pressure Britain to redress colonial grievances.

Trade With Great Britain

Economic exchanges between entities in Great Britain and other countries or colonies, historically significant during periods like the colonial era and the Industrial Revolution.

Declaration Of Independence

is the historic document adopted on July 4, 1776, in which the thirteen American colonies declared their independence from British rule.