Solution for QID #2490: 1)Inefficient outcomes can arise in markets for public goods | StudyHelpMe

1)Inefficient outcomes can arise in markets for public goods because: a. too much of an exclusive good is produced. b. too little of a nonexclusive good is produced. c. too much of a nonexclusive good is produced. d. too little of an exclusive good is produced. 2)Which of the following statements is correct about the term "adverse selection"? a. "Adverse selection" is the tendency of people with characteristics undesirable to sellers to buy a good or service from those sellers, b. "Adverse selection" is the tendency of people to change their behavior in undesirable ways after they have purchased insurance, c. "Adverse selection" is the tendency of people outside of flood plains to buy flood insurance, d. "Adverse selection" is the tendency of people to buy products that have negative values.