Asked by shelby hulka on Jul 27, 2024
Verified
Public goods are
A) rival in consumption, and their benefits are excludable.
B) nonrival in consumption, and their benefits are excludable.
C) nonrival in consumption, and their benefits are nonexcludable.
D) rival in consumption, and their benefits are nonexcludable.
Nonrival
A good or service that can be consumed by one individual without preventing the consumption of the good by another individual.
Nonexcludable
A characteristic of a public good, indicating that it is not feasible to prevent non-paying customers from consuming the good.
- Understand the aspects of public goods and the difficulties faced in their delivery.
Verified Answer
VT
Victoria ThúyJul 30, 2024
Final Answer :
C
Explanation :
Public goods are characterized by being nonrival in consumption, meaning one person's consumption of the good does not reduce the amount available for others, and their benefits are nonexcludable, meaning it is difficult or impossible to prevent anyone from benefiting from the good once it has been provided.
Learning Objectives
- Understand the aspects of public goods and the difficulties faced in their delivery.