One Difference Between the Demand for a Private Good and That

question 75

Multiple Choice

One difference between the demand for a private good and that for a public good is that

• A)with a private good, each consumer chooses the quantity she wants to consume but with a public good, each consumer chooses the price she is willing to pay for a fixed quantity.
• B)with a private good, each consumer chooses the quantity she wants to consume but with a public good, everyone consumes the same quantity.
• C)with a private good, each consumer receives different amounts of benefit from consuming the product but with a public good, every consumer realizes the same amount of benefit from consuming the product.
• D)the marginal benefit from consuming the last unit of a public good always exceeds the marginal benefit from consuming the last unit of a private good because there are externalities in the consumption of the public good.

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Definitions:

REM Sleep

A sleep phase characterized by rapid eye movements, more dreaming and bodily movement, and faster pulse and breathing.

Neurological Damage

Harm or injury to the nervous system that can affect brain function, nerve communication, and overall physical and cognitive abilities.

Wakefulness

A state of consciousness characterized by alertness, awareness, and activity, in contrast to sleep.

Latent Content

In psychoanalysis, the hidden psychological meaning of a dream, as opposed to the explicit narrative and imagery (manifest content).