Suppose a Public Good That Is Worth $1 Billion Is

Suppose a public good that is worth $1 billion is not produced by the market, and so the government provides it, but at a cost of $3 billion. This attempt to correct a market failure has:

A) been successful since the public good is now produced.
B) given rise to the problem of free riders.
C) resulted in a government failure since use of resources is now less efficient.
D) resulted in an information asymmetry for the government.

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