Question

what does nonexcludable mean?
when it is costly or impossible to exclude someone from using the good.
a market failure caused by negative externalities.
when one persona’s use prevents others from using the good.
a good that is easily available for private consumption.
when firms capture all benefits from producing goods.
question 5
1 pts
what does nonrivalrous mean?
the costs incurred by firms to prevent free riders.
the private benefits earned by firms or individuals.
when it is impossible to exclude others from using the good.
when one persona’s use of a good does not prevent others from using it.
when external costs are transferred to third parties.
question 6
1 pts
what are private benefits?
the costs incurred by firms when producing public goods.
benefits received by an individual or firm who consumes or invents a good or service.
the benefits gained by third parties from positive externalities.
benefits shared equally by society and individuals.
external benefits caused by spillovers in production.

Explanation:

• For "nonexcludable": The key concept is about the difficulty or impossibility of excluding people from using a good. The first option directly addresses this.
• For "nonrivalrous": It focuses on one person's use not preventing others' use. The fourth option captures this essence.
• For "private benefits": These are benefits to the individual or firm consuming or inventing. The second option aligns with this definition.

Answer:

• For "nonexcludable": When it is costly or impossible to exclude someone from using the good.
• For "nonrivalrous": When one person’s use of a good does not prevent others from using it.
• For "private benefits": Benefits received by an individual or firm who consumes or invents a good or service.