When a Good Is Nonexcludable

question 196

Multiple Choice

When a good is nonexcludable:

• A)consumers will pay the market price for it.
• B)producers will produce too much of it.
• C)a free-rider problem can arise.
• D)production will be efficient.

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Definitions:

Cro-Magnons

Early modern humans that lived in Europe approximately 40,000 to 10,000 years ago, known for their sophisticated tools and art.

Spears

Long-shafted weapons with a pointed tip, typically used for thrusting or throwing.

Environment

The surrounding conditions, influences, and natural life in which a person, animal, or plant lives and operates.

Living Lineages

Sequences of living organisms that are descended from a common ancestor, showcasing the path of evolution.