Question

What is a public good?(1 point)
Responses

A public good is a product or service that one consumer cannot prevent another consumer from using, and is not accessible without payment.
A public good is a product or service that one consumer cannot prevent another consumer from using, and is not accessible without payment.

A public good is a product or service that one consumer can prevent another consumer from using, and is not accessible without payment.
A public good is a product or service that one consumer can prevent another consumer from using, and is not accessible without payment.

A public good is a product or service that one consumer cannot prevent another consumer from using, and is accessible without payment.
A public good is a product or service that one consumer cannot prevent another consumer from using, and is accessible without payment.

A public good is a product or service that one consumer can prevent another consumer from using, and is accessible without payment.

Answer 1

The correct choice is: "A public good is a product or service that one consumer cannot prevent another consumer from using, and is accessible without payment."

(Equivalently: a public good is non-excludable and typically non-rivalrous.)