Public Goods Represent a Market Failure Because

question 40

Multiple Choice

Public goods represent a market failure because

• A) they are provided by firms with market power.
• B) positive externalities are created through their production.
• C) by their very nature they are nonexcludable and nonrival, which makes it difficult for the private sector to supply them profitably.
• D) there is incomplete information regarding their quality.

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Definitions:

Enlarged Prostate

A condition commonly occurring in men as they age, involving the growth of the prostate gland, which can impede the flow of urine.

Urinary Frequency

A condition characterized by the need to urinate more often than usual, usually without an increase in the total daily volume of urine.

Painful Prostate Syndrome

A symptom complex associated with pain perceived in the prostate region, often related to prostatitis.

Bladder Cancer

A type of cancer that begins in the cells of the bladder, the organ that stores urine, with symptoms like blood in urine and painful urination.