What are the two distinguishing characteristics of a public good?
a. nonrivalry in consumption and nonexcludability
b. indivisibility in production and excludability of nonpaying customers
c. provision by government and funding through taxation
d. mass production and comparative advantage
A
Economics
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What occurs if a price floor is set above the equilibrium price? What occurs if a price ceiling is set below the equilibrium price?
What will be an ideal response?
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Economic historians have located evidence to suggest that colonists barely lived at subsistence levels
Indicate whether the statement is true or false
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