A renewable resource such as fish which is also an open-access good is:
a. rival but nonexcludable.
b. nonrival and nonexcludable.
c. nonrival but excludable.
d. rival and excludable.
a
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The Federal Reserve System first began operations in:
A. 1865. B. 1914. C. 1789. D. 1934
In the figure above, if the market is unregulated, the price will be
A) $250 per unit. B) $200 per unit. C) $150 per unit. D) $100 per unit.
If it is not profitable for more than one firm to be in an industry, we have an example of
A) monopoly due to ownership of key resources. B) monopoly due to governmental entry restrictions. C) monopoly due to economies of scale. D) pure competition.
The five forces model is a framework
a. For increasing buyer force in the market b. For improving competition in the industry c. For analyzing the attractiveness of an industry d. Of matching resources and capabilities of the firm