From the standpoint of economic efficiency competitive markets provide a less

From the standpoint of economic efficiency

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198.From the standpoint of economic efficiency, competitive markets provide:a.less of a public good than would be efficient.b.more of a public good than would be efficient.c.exactly the amount of a public good that is efficient.d.none of these.ANS:APTS:1DIF:MediumREF:Full: 115 | Mic: 115TOP:Public goodsTYP:SA199.A competitive market economy is unlikely to provide an efficient quantity of some public goods because:200.Goods whose benefits to society are notdiminished as more people consume them and whose benefits cannot be withheld from anyone are:
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201.Which of the following is a public good?202.Which of the following is the bestexample of a public good?a.Apples.b.Cars.c.Education.d.National defense.ANS:DPTS:1DIF:MediumREF:Full: 115 | Mic: 115TOP:Public goodsTYP:SA203.Which of the following is the bestexample of a public good?204.A public good may be defined as any good or service that:205.Which of the following is a property of a public good?
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