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Unformatted text preview: people cannot be excluded from
receiving the benefits of:
A) public goods and common resources. definitions
B) common resources.
C) private goods.
D) public goods. Version 1 Page 14 63. There are three bundles: A, B, and C. I strictly prefer C to A, I strictly prefer B to A, and
am indifferent between C and B. Is this ranking of bundles consistent with rationality in
the economic sense of the term?
B) Not enough information to tell
64. The market will fail in the allocation of a common-property resource that is not scarce.
65. Santa Claus on Christmas Eve is
A) A good example of a public commodity because his time is not rivalrous.
B) Not a public commodity because his services on Christmas Eve are not congestible.
C) Not a public commodity because his services on Christmas Eve are excludable
D) A good example of a public commodity because his time is not congestible.
sucks to be jewish or naughty
66. An individual's MRSxy is how much how much x he would give up to get another unit of
y, and a...
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- Fall '07