The two main characteristics of a public good are:

A) production at constant marginal cost and rising demand.
B) nonexcludability and production at rising marginal cost.
C) nonrivalry and nonexcludability.
D) nonrivalry and large negative externalities.

Public Good

A public good is a product or service that is non-excludable and non-rivalrous, meaning it can be consumed by anyone without reducing its availability to others.

Nonexcludability

A characteristic of public goods where it is not feasible to exclude individuals from using the good or benefiting from it.

Nonrivalry

A characteristic of certain goods where one person's consumption does not reduce availability to others, often associated with public goods.