What is a public good?
A. A public good is a product or service that one consumer cannot prevent another consumer from using, and is accessible without payment.
B. A public good is a product or service that one consumer cannot prevent another consumer from using, and is accessible without payment.
C.A public good is a product or service that one consumer from using, and is accessible without payment.
D. A public good is a product or services that one consumer can prevent another consumer from using, and is accessible without payment.
What is a negative externality?
A. Negative externalities are goods or services that one consumer can limit another consumer’s use of.
B. Negative externalities occur when the social cost of a good or services is lower than the private cost.
C. Negative externalities are good or services that are subject to the free-rider problem.
D. Negative externalities occur when the social cost of a good or service is higher than the private cost.
D. A public good is a product or service that one consumer can prevent another consumer from using, and is accessible without payment.
D. Negative externalities occur when the social cost of a good or service is higher than the private cost.