Question : Which of the following are the characteristics of public goods?
Option 1: Non-rivalrous
Option 2: Excludable
Option 3: Rivalrous
Option 4: All of the above.
Correct Answer: Non-rivalrous
Solution : Non-rivalrous and Non-excludable are the characteristics of Public goods. Non-rivalrous includes benefit of such goods are available to all. Non-excludable involves no one can be excluded from consuming public goods. Hence, Option A is correct.
Question : Which of the following is an incorrect statement concerning public goods?
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