Which of the Following Is Not a Characteristic of a Public

question 101

Multiple Choice

Which of the following is not a characteristic of a public good?

• A)It is not excludable.
• B)It is not diminished or depreciated as additional people consume the good.
• C)Its benefits cannot be withheld from anyone.
• D)Because it is a free good, there is no opportunity cost.

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Definitions:

Lowest Price

The minimum cost at which a product or service can be bought, often sought after in competitive markets.

Total Profits

The final financial gain from a business operation after subtracting all expenses, taxes, and costs from total revenues.

Firm

A business organization, such as a corporation or partnership, engaged in commercial, industrial, or professional activities.

Accounting Profits

The net income for a company calculated by subtracting total expenses from total revenues, according to standard accounting practices.