Which of the following statements about private goods and public goods is correct?
a. Private goods and public goods are both excludable.
b. Private goods and public goods are both rival in consumption.
c. Private goods are not excludable and public goods are excludable.
d. Private goods are rival in consumption and public goods are not excludable.
d
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In the long run, what is the tradeoff between inflation and unemployment? Explain your answer using Phillips curve analysis
What will be an ideal response?
Multinational companies are concerned about exchange rate risk
Indicate whether the statement is true or false
The above figure depicts the Edgeworth box for two individuals, Al and Bruce. Considering only the labeled points, point c is a possible equilibrium
A) only if it is the endowment. B) only if point a is the endowment. C) if either point a or b is the endowment. D) only if point d is the endowment.
Which of the following is likely to occur when it is known that a two-person game is to be played only once?
a. Collusion b. The demand curve becomes perfectly inelastic for this time period c. The prisoner's dilemma d. The pursuit of profit maximization for the entire industry e. An attempt to equate marginal revenue with marginal cost