Which of the Following Is True of a Public Good

question 15

Multiple Choice

Which of the following is true of a public good?

• A)The demand curve for a public good is clearly defined because each consumer consumes the same quantity of the good.
• B)The demand curve for a public good is clearly defined because each individual pays the same price.
• C)The demand curve for a public good may not exist because individuals can consume the good without being forced to pay a market price for the good.
• D)The supply curve of a public good may not exist because individuals can consume the good without being forced to pay a market price for the good.
• E)The supply curve of a public good is perfectly elastic as a small increase in the price leads to an infinite increase in the supply of the good.

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Definitions:

Retina

The light-sensitive layer of tissue at the back of the inner eye, which converts light images into neural signals sent to the brain.

Fovea

A small depression in the retina where visual acuity is highest due to the concentration of cones.

Optic Disk

The point in the eye where the optic nerve fibers exit the retina, often referred to as the blind spot because it lacks photoreceptors.

Ganglion Cells

Neurons whose axons form the optic nerve.