ECN 110 : M TB Sample Questions Ch 11.pdf

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Multiple choice identify the choice that best completes the statement or answers the question. It is impossible to prevent any single person from enjoying the benefit of national defence: the fixed cost of national defence is too high, the necessary resources for national defence are not available in the private sector. ___: what are common resources, both rival and nonexcludable, both rival and excludable, both nonrival and excludable, both nonrival and nonexcludable. ___: when one person uses a common resource, which of the following outcomes will most likely occur, an externality will arise, other people will be neither better nor worse off. It will be simple to charge him or her for usage of it: no one else will be able to use the common resource. ___: which of the following goods would satisfy attributes of a natural monopoly, a congested public freeway, an airline flight that has been overbooked, public parking local cable television.

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