Multiple Choice
Which of the following statements is true regarding the demand curve for a public good?
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8. The Types of Goods
Public Goods: Demand Curve and Optimal Quantity
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Which of the following is an example of a government monopoly in the United States?
A
Private cable television providers
B
Fast food restaurant chains
C
Commercial airlines
D
The United States Postal Service
Verified step by step guidance1
Understand the concept of a government monopoly: it is a market where the government is the sole provider of a good or service, with no competition from private firms.
Review each option and determine whether it is operated by the government or private entities.
Private cable television providers are private companies, so they are not government monopolies.
Fast food restaurant chains and commercial airlines are also operated by private firms, so they are not government monopolies.
The United States Postal Service is a government agency that has exclusive rights to provide certain mail services, making it an example of a government monopoly.
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