Which of the following statements about public goods is true?   Public goods are more important economically than private goods. It is difficult or impossible to exclude people from the consumption of a public good even if they do not pay. The incentive of private producers to supply public goods is weak.

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter5: Difficult Cases For The Market And The Role Of Government
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Which of the following statements about public goods is true?

 

Public goods are more important economically than private goods.

It is difficult or impossible to exclude people from the consumption of a public good even if they do not pay.

The incentive of private producers to supply public goods is weak.

a. 

I only

 

b. 

III only

 

c. 

II and III

 

d. 

I, II, and III

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