A fireworks competition is happening in Sydney this November. An entrance fee of $8.00 is required for spectators who want to have a great view of the competition. However, residences near the competition can also watch the firework displays even without paying for the $8.00 entrance fee. 1. Fireworks display is considered a common good. 2. Fireworks display is non-excludable and non-rivalrous. 3. Fireworks display is non-rivalrous but excludable. Which of the above statements are true? Only 1 is true. Only 2 is true. Only 3 is true. Both 1 and 2 are true. Both 1 and 3 are true.

A fireworks competition is happening in Sydney this November. An entrance fee of $8.00 is required for spectators who want to have a great view of the competition. However, residences near the competition can also watch the firework displays even without paying for the $8.00 entrance fee. 1. Fireworks display is considered a common good. 2. Fireworks display is non-excludable and non-rivalrous. 3. Fireworks display is non-rivalrous but excludable. Which of the above statements are true? Only 1 is true. Only 2 is true. Only 3 is true. Both 1 and 2 are true. Both 1 and 3 are true.

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter19: Pricing Concepts

Section: Chapter Questions

Problem 6DRQ

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