Goods that are rival in consumption and excludable are:
A. a common resource.
B. a private good.
C. a public good.
D. an artificially scarce good.
B. a private good.
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Microsoft's purchase of a factory in Mexico is entered into the U.S. balance of payments accounts as a
A) positive entry in the capital and financial account. B) positive entry in the current account. C) negative entry in the settlements account. D) negative entry in the capital and financial account. E) negative entry in the current account.
At prices above the equilibrium price, what occurs?
What will be an ideal response?
Refer to Figure 15-4. What is the amount of the monopoly's total cost of production?
A) $21,600 B) $17,700 C) $9,340 D) $7,800
The short run aggregate supply curve refers to a period in which input prices have not yet had time to adjust to changes in aggregate demand
a. True b. False Indicate whether the statement is true or false