Which of the following descriptions best characterizes public goods?Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.aPublic goods are those where it is hard to keep non-payers from using the good, but their use of the good does not negatively impact others’ ability to use it.bPublic goods are those where it is hard to keep non-payers from using the good, and their use of the good negatively impacts others’ ability to use it.cPublic goods are those without an external cost of production or an external benefit of production.dPublic goods are those where individual consumers can be excluded from using the good, but the marginal cost is zero and so an infinite number of goods should be produced.Unanswered2 attempts left

What are the two characteristics that differentiate private goods from public goods?Multiple Choicerivalry and excludabilitynegative externality and positive externalitymarginal cost and marginal benefitownership and usage

Think about the goods and services provided by state and local governments. a) Using the categories in Figure 11.1, classify each of the following goods,explaining your choice: i) police protection ii) garbage collection iii) education iv) rural roads v) city streets. b) Why do you think the government provides items that are not public goods?

Consider a good with external costs. Which of the following descriptions characterizes quantities of goods between the market equilibrium quantity and the allocatively efficient quantity?Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.aThese quantities will not be produced by the private market, but the government can add these quantities to production using a subsidy, resulting in higher economic efficiency.bThese quantities will not be produced by the private market, but the government can add these quantities to production using a tax, resulting in higher economic efficiency.cThese quantities will be produced by the private market, but the government can eliminate these quantities from production using a subsidy, resulting in higher economic efficiency.dThese quantities will be produced by the private market, but the government can eliminate these quantities from production using a tax, resulting in higher economic efficiency.

Without government intervention, public goods will be __________ provided by markets alone. Group of answer choicesequitablyunderefficientlyoverly

Both public goods and common resources areGroup of answer choicesexcludable.nonrival in consumption.nonexcludable.rival in consumption.