A. there are no benefits to the public since a public good is not excludable
B. the benefits are infinite because a public good is not rival and an infinite amount of people can consume it at the same time
C. one can never place a value on human life or the environment
D. respondents to naires have little incentive to tell the truth.
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Related Mcqs:
- Market price adjusted to consider differences between social cost-benefit and private cost-benefit calculations are ?
- A. price distortions B. consumer surplus C. shadow prices D. exchange rates...
- What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?
- A. Prudent development B. Sustainable development C. Managed economy D. None of these...
- Public goods are difficult for a private market to provide due to ?
- A. the rivalness problem B. the public goods problem C. the Tragedy of the Commons. D. The free-rider problem....
- If goods are exported for less than society’s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?
- A. an import subsidy B. a quota C. comparative advantage D. an export subsidy...
- When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?
- A. less than the efficient level of output B. more than the efficient level of output C. so that consumer surplus is zero D. the efficient level of output...
- Unemployment benefits may increase the unemployment rate because unemployment benefits ?
- A. encourage people to quit their jobs B. reduce the cost of job search C. enable people to quit searching for work D. reduce the benefits of additional job searching...
- Name the political and economic system in which the government owns and controls the means of production to benefit all the people ?
- A. Communism B. Socialism C. Capitalism D. Authoritarianism...
- Economic system in which the government owns and controls the means of production to benefit all the people is called ?
- A. Dictatorship B. Socialism C. Capitalism D. Authoritarianism...
- If marginal benefit is greater than marginal cost, a rational choice involves ?
- A. no more of the activity. B. less of the activity C. more of the activity D. more or less, depending on the benefits of other activities...
- A student chooses to study because the marginal benefit is greater than the ______________ cost?
- A. average B. expected C. total D. marginal...
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