Question

Question 201 pts

Which of the following best describes the consumption of a non-rival good?

Group of answer choices

A consumer may obtain the good without preventing simultaneous consumption by another consumer

A consumer may obtain the good with the consent of the provider

A consumer may obtain the good without payment

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Question 211 pts

Although a lack of information can cause a market to fail, why might some market participants withhold information from others?

Group of answer choices

The participant who withholds information maintains an advantage

The participant who withholds information does not realize he or she is breaking the law.

The participant who withholds information does not care that he or she is breaking the law

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Question 221 pts

If the production of a good generates a positive externality, the government can increase allocating efficiency by

Group of answer choices

taxing the producer of the good

subsidizing the producer of the good

prosecuting firms that produce the good without proper permits

setting a price ceiling to encourage production of the good

setting a price floor to discourage production of the good

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Question 231 pts

People who are unable to pay for goods and who cannot be excluded from the market are which of the following types of consumers?

Group of answer choices

irrational consumers

illegal consumers

free riders

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Question 241 pts

Which of the following is the best example of a pure public good?

Group of answer choices

Electricity from a public utility

Mail delivery service by the post office

Social Security payments

National defense

Imported oil

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Question 251 pts

What does it mean for a good to be non-excludable?

Group of answer choices

No one can be excluded from using it

An individual may use it, but must pay for it later

It is available to most of the population

Answer 1

Ans 1.) Option A -

A consumer may obtain the good without preventing simultaneous consumption by another consumer

Non-rival goods are generally those goods which once consumed by an individual does not prevent the other individual from consuming it.

In other words, non - rival goods are those goods which dpes not include any marginal cost.

For example, Fresh air, sunlight etc