Goods whose benefits to society are not diminished as more people consume them and whose benefits cannot be withheld from anyone are:
A. impossible since resources are limited.
B. examples of negative externalities.
C. public goods.
D. food and other necessities.
Answer: C
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Paulette owns a pizza parlor. Her total cost schedule is in the above table. Her marginal cost of producing the fifth pizza is
A) $8. B) between $8.01 and $10.00. C) between $10.01 and $14.00. D) between $14.01 and $78.00. E) more than $78.01.
Which of the following is a possible limitation in cost estimation?
A. Critics argue that the method used for estimating cost is outdated and does not provide accurate cost estimates. B. It is difficult to obtain data on relevant costs from accounting reports that record historical data. C. Critics argue that cost estimates do not help managers make efficient decisions. D. It is difficult to get qualified people who can obtain data on costs and can interpret the data.