Question

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a public good will:
select one:
a. be efficiently provided by the free market as long as its total benefits exceed its total costs.
b. be provided in efficient quantities by voluntary contributions.
c. be efficiently provided by the free market as long as its marginal benefits exceed its marginal costs.
d. be provided in less than efficient quantities by the free market.

Explanation:

Public goods are non-excludable and non-rivalrous. Free markets fail to provide efficient quantities because of the free-rider problem: people can benefit without paying, so private suppliers have no incentive to produce the socially optimal amount. Voluntary contributions also fail for the same reason, and market-based marginal/total benefit-cost checks don't account for free-riding, leading to underprovision.

Answer:

d. be provided in less than efficient quantities by the free market.