a) It is available only in the nonmarket environment.
b) It creates higher benefits for nonmarket action by providing an alternative.
c) The incentives for nonmarket action are smaller if the substitutes are closer to replicating the benefits.
d) It creates lower per capita benefits but high aggregate benefits.
b) It creates higher benefits for nonmarket action by providing an alternative.
c) The incentives for nonmarket action are smaller if the substitutes are closer to replicating the benefits.
d) It creates lower per capita benefits but high aggregate benefits.
ANSWER:
c) The incentives for nonmarket action are smaller if the substitutes are closer to replicating the benefits.