Which of the following statements is FALSE regarding common goods? Multiple Choice Water is an example of a common good. Similar to most public goods, the marginal cost of common goods is ALWAYS zero. Common goods are defined in economics as goods which are rival and non-excludable.

Which of the following statements is FALSE regarding common goods? Multiple Choice Water is an example of a common good. Similar to most public goods, the marginal cost of common goods is ALWAYS zero. Common goods are defined in economics as goods which are rival and non-excludable.

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter4: Markets In Action

Section: Chapter Questions

Problem 17SQ

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Question

Which of the following statements is FALSE regarding common goods?

Multiple Choice

Water is an example of a common good.
Similar to most public goods, the marginal cost of common goods is ALWAYS zero.
Common goods are defined in economics as goods which are rival and non-excludable.
Fish stocks in international waters is an example of a common good.

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