The free-rider problem is encountered when
A) someone benefits from the consumption of a public good without paying his or her full share.
B) all individuals who consume a public good pay for it.
C) all goods consumed and produced are private goods.
D) all individuals are willing to pay for what they consume.
Answer: A
Economics
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If the money wage rate rises, then the
A) SAS curve shifts rightward. B) SAS curve shifts leftward. C) LAS curve shifts rightward. D) LAS curve shifts leftward.
Economics
Economic efficiency entails
A) producing a given amount of output with the most expensive mix of inputs. B) producing a given amount of output with the least number of inputs. C) producing a given amount of output with the most inputs. D) producing a given amount of output with the cheapest mix of inputs.
Economics