What statement best describes the relationship between socioeconomic status and privatization of a public good?(1 point)
Responses:
1. Socioeconomic status makes privatized goods nonrivalrous and nonexcludable.
2. Lower levels of socioeconomic status will have higher-quality privatized public goods.
3. Higher levels of socioeconomic status will demand higher-quality privatized public goods.
4. Socioeconomic status will not have any effect on privatization of goods.