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:

Qualitative

Pertaining to descriptions or distinctions based on qualities rather than on quantitative measurements, often used in research.

Naturalistic Research

A methodological approach to study that involves observing subjects in their natural environments without intervening or altering the conditions.

Fordist Workplace

Pertains to a form of industrial production characterized by large-scale manufacturing, standardized products, and assembly line processes, derived from Henry Ford's practices.

Moving Assembly Lines

A manufacturing process that efficiently produces a large volume of standardized products by having the product move from worker to worker, each adding a specific component.