10 Questions
What is a characteristic of public goods?
Non-rival in consumption
What is the marginal cost for the first user of a public good?
$200 per unit
Which of the following is an example of a pure public good?
National defense
What is a characteristic of pure private goods?
Rival in consumption
What is the main problem associated with public goods?
The free-rider problem
What is a characteristic of public goods?
Non-rival in consumption
Which of the following is an example of a pure public good?
National defense
What is the marginal cost for the first user of a public good?
$200 per unit
What is a characteristic of pure private goods?
Rival in consumption
What is the main problem associated with public goods?
Free-rider problem
Test your knowledge of public goods with this quiz covering the definition, characteristics, demand, efficient output, and the free-rider problem associated with public goods.
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