Which of the following statements is not true? Multiple Choice Public goods are only provided by government. The free-rider problem results from the characteristics of nonrivalry and nonexcludability. Private provision of public goods is usually unprofitable. Some public goods are paid for by private philanthropy,

Which of the following statements is not true? Multiple Choice Public goods are only provided by government. The free-rider problem results from the characteristics of nonrivalry and nonexcludability. Private provision of public goods is usually unprofitable. Some public goods are paid for by private philanthropy,

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter17: Externalities And The Environment

Section: Chapter Questions

Problem 1QFR

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Aldous Snow teaches yoga classes in Central Park on Sunday mornings. Because he cannot force anyone to pay for his class, he instead takes donations. This service he provides is, in economic terms, Group of answer choices a negative externality. nonexcludable. blind faith profit. nonrival.
Refer to the figure below. This graph describes a good that: Price ($/unit) A B C-- I Social MC Private MC F Quantity (units/day) Demand
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i)A public good a )costs essentially nothing to produce and is thus provided by the government at a zero price. b)can never be provided by a nongovernmental organization. c) can't be provided to one person without making it available to others as well. d)generally results in substantial negative externalities. ii)The market demand curve for a public good a) shows the total value that all individuals place on each additional unit of the good. b) is derived in the same manner as demand curves for private goods. c)is derived by horizontally summing all individual demand curves. d)shows the total number of units that would be produced by the public sector at each possible price. iii)The market demand curve for a public good a) shows the total value that all individuals place on each additional unit of the good. b)is derived in the same manner as demand curves for private goods. c) is derived by horizontally summing all individual demand curves. d)shows the total number of units…
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Which of the following statements is false regarding a public good? Multiple Choice The marginal cost of a public good is zero. A scholarship is an example of a public good. A public good is non-rival. A public good is non-excludable.
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