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13 January, 02:37

The two main characteristics of a public good are

A. production at constant marginal cost and rising demand.

B. nonexcludability and production at rising marginal cost.

C. nonrivalry and nonexcludability.

D. nonrivalry and large negative externalities.

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  1. 13 January, 06:17
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    (C) Nonrivalry and nonexcludability.

    Explanation:

    Nonrivalry:

    This simply means that when a good is produced and consumed by the consumers, it does not lower the quantity available for other consumers. It's supply is not affected by other people's consumption.

    Nonexcludability:

    This means that when a good is produced, it is not possible to stop others from using or benefiting from it. The good is always available to all.
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