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    public good

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    Please circle the most correct or appropriate answer. Please only choose one answer per

    1. A public good has the following characteristic(s):

    a. It is non-exclusive.
    b. It has a free-rider problem.
    c. It causes market failure.
    d. It can be corrected by assigning property rights.
    e. All of the above.
    e. All of the above. Each of these is a characteristic of public good.

    2. Education has a _____________.

    a. negative externality.
    b. positive externality.
    c. private ...

    Solution Summary

    public good is discussed in this solution.