An Example of a Public Good Subject to Nonrival Consumption

question 8

Multiple Choice

An example of a public good subject to nonrival consumption is given by:

• A) national defense.
• B) local trash pickup.
• C) a municipal swimming pool.
• D) a municipal softball diamond.

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Definitions:

Binomial Distribution

a probability distribution describing the number of successes in a fixed number of independent Bernoulli trials, with a constant probability of success.

Bernoulli Experiment

A random experiment with exactly two possible outcomes, often termed success and failure.

Probability Density Function

A Probability Density Function (PDF) is a function that describes the relative likelihood for a continuous random variable to take on a given value.

Expected Value

A statistical measure that calculates the average outcome of a random variable after many repetitions of an experiment.