Consider the following statements regarding public goods: (A) A public good is non-exclusive (B) A public good is national defense (C) A public good is rival (D) A public good provides benefits to people at non-zero marginal cost (E) A public good creates inefficiency in consumption Choose the correct answer from the options given below:
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Market failure, externalities and public goods has come up 114 times in 7 exams since 2006.
This question is on Public goods and the classification of goods, part of Market failure, externalities and public goods in Microeconomics.
Goods that are non-rival and non-excludable, and the condition for providing them efficiently.
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Question from the UGC-NET 2024 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.