Author Question: Which of the following is TRUE about public goods? A) Consumption is rival and nonexcludable. B) ... (Read 36 times)

fagboi · **on:** Jun 29, 2018

Which of the following is TRUE about public goods?

A) Consumption is rival and nonexcludable.
B) Consumption is nonrival and excludable.
C) Efficient provision occurs at the level of output at which total benefit is equal to total cost.
D) Unregulated private markets produce less than the efficient quantity of a public good.

Question 2

Lizzie's budget line is shown in the figure above. The relative price of a magazine is ________ per magazine.

A) 2 cookies
B) 0.5 of a cookie
C) 1
D) 2