5. The amount of information that is necessary to make an efficient choice is generally in the public sector than in the private sector. а. less b. more С. the same d. None of the above is true.

1. The additional benefit of producing one more roast beef sandwich at a local deli is $3. The additional cost of producing one more roast beef sandwich is $3. To improve allocative efficiency A. producers should produce one more roast beef sandwich because MB > MC. B. producers should produce one more roast beef sandwich because MB equals MC. C. producers should not produce one more roast beef sandwich because MB > MC. D. producers should not produce one more roast beef sandwich because MB equals MC.

14. The "big tradeoff" refers to A. producing capital goods instead of consumable goods. B. marginal benefit versus marginal cost. C. efficiency and fairness. D. taking an economics course instead of some other course.

Determine if the good is public good, private good, club good or common-pool resources. Please only tell me the ones that I got wrong and the reason why! 1. Albert Einstein's Theory of Relativity (as an idea) Public Good 2. Books in the public library Public Good 3. A local church, temple etc Public Good 4. Healthcare services provided by a physician Could be both public and private..? 5. The national missile defense system Public good