Excludable goods and rival in consumption.

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Answer 1

Question

Chapter 11, Problem 1QR

To determine

Excludable goods and rival in consumption.

Expert Solution & Answer

Explanation of Solution

Excludable commodities are the commodities that can be excluded from people to consume them or acquire benefit of the commodity. The consumer has to pay a price in order to avail the commodities.

A commodity is rival in consumption, if the consumption of a commodity by one person diminishes the availability of that commodity to another person. Consumption of private goods and common goods by one person reduces the availability of that good to other individuals.

A pizza producer can prevent someone who does not pay for the pizza from eating it. Therefore, pizza is excludable.

When one person eats it, no one else can eat it. So pizza is also rival in consumption.

Economics Concept Introduction

Concept Introduction:

Consumption: Consumption refers to the purchase of goods and services in order to satisfy human wants.

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Students have asked these similar questions

Explain what is meant by a good being "excludable." Explain what is meant by a good being "rival in consumption." Is a slice of pizza excludable? Is it rival in consumption?

Give an example of each of the following:a. A good that is rivalrous in consumption and is excludable.b. A good that is nonrivalrous in consumption and is excludable.c. A good that is rivalrous in consumption and is nonexcludable.d. A good that is nonrivalrous in consumption and is nonexcludable.

Answer 2

Question

Chapter 11, Problem 1QR

To determine

Excludable goods and rival in consumption.

Expert Solution & Answer

Explanation of Solution

Excludable commodities are the commodities that can be excluded from people to consume them or acquire benefit of the commodity. The consumer has to pay a price in order to avail the commodities.

A commodity is rival in consumption, if the consumption of a commodity by one person diminishes the availability of that commodity to another person. Consumption of private goods and common goods by one person reduces the availability of that good to other individuals.

A pizza producer can prevent someone who does not pay for the pizza from eating it. Therefore, pizza is excludable.

When one person eats it, no one else can eat it. So pizza is also rival in consumption.

Economics Concept Introduction

Concept Introduction:

Consumption: Consumption refers to the purchase of goods and services in order to satisfy human wants.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 11, Problem 1QR

To determine

Excludable goods and rival in consumption.

Expert Solution & Answer

Explanation of Solution

Excludable commodities are the commodities that can be excluded from people to consume them or acquire benefit of the commodity. The consumer has to pay a price in order to avail the commodities.

A commodity is rival in consumption, if the consumption of a commodity by one person diminishes the availability of that commodity to another person. Consumption of private goods and common goods by one person reduces the availability of that good to other individuals.

A pizza producer can prevent someone who does not pay for the pizza from eating it. Therefore, pizza is excludable.

When one person eats it, no one else can eat it. So pizza is also rival in consumption.

Economics Concept Introduction

Concept Introduction:

Consumption: Consumption refers to the purchase of goods and services in order to satisfy human wants.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 11, Problem 1QR

To determine

Excludable goods and rival in consumption.

Expert Solution & Answer

Explanation of Solution

Excludable commodities are the commodities that can be excluded from people to consume them or acquire benefit of the commodity. The consumer has to pay a price in order to avail the commodities.

A commodity is rival in consumption, if the consumption of a commodity by one person diminishes the availability of that commodity to another person. Consumption of private goods and common goods by one person reduces the availability of that good to other individuals.

A pizza producer can prevent someone who does not pay for the pizza from eating it. Therefore, pizza is excludable.

When one person eats it, no one else can eat it. So pizza is also rival in consumption.

Economics Concept Introduction

Concept Introduction:

Consumption: Consumption refers to the purchase of goods and services in order to satisfy human wants.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 11, Problem 1QR

To determine

Excludable goods and rival in consumption.

Expert Solution & Answer

Explanation of Solution

Excludable commodities are the commodities that can be excluded from people to consume them or acquire benefit of the commodity. The consumer has to pay a price in order to avail the commodities.

A commodity is rival in consumption, if the consumption of a commodity by one person diminishes the availability of that commodity to another person. Consumption of private goods and common goods by one person reduces the availability of that good to other individuals.

A pizza producer can prevent someone who does not pay for the pizza from eating it. Therefore, pizza is excludable.

When one person eats it, no one else can eat it. So pizza is also rival in consumption.

Economics Concept Introduction

Concept Introduction:

Consumption: Consumption refers to the purchase of goods and services in order to satisfy human wants.

Answer 6

Chapter 11, Problem 1QR

To determine

Excludable goods and rival in consumption.

Expert Solution & Answer

Explanation of Solution

Excludable commodities are the commodities that can be excluded from people to consume them or acquire benefit of the commodity. The consumer has to pay a price in order to avail the commodities.

A commodity is rival in consumption, if the consumption of a commodity by one person diminishes the availability of that commodity to another person. Consumption of private goods and common goods by one person reduces the availability of that good to other individuals.

A pizza producer can prevent someone who does not pay for the pizza from eating it. Therefore, pizza is excludable.

When one person eats it, no one else can eat it. So pizza is also rival in consumption.

Economics Concept Introduction

Concept Introduction:

Consumption: Consumption refers to the purchase of goods and services in order to satisfy human wants.

Answer 7

Chapter 11, Problem 1QR

To determine

Excludable goods and rival in consumption.

Answer 8

Expert Solution & Answer

Explanation of Solution

Excludable commodities are the commodities that can be excluded from people to consume them or acquire benefit of the commodity. The consumer has to pay a price in order to avail the commodities.

A commodity is rival in consumption, if the consumption of a commodity by one person diminishes the availability of that commodity to another person. Consumption of private goods and common goods by one person reduces the availability of that good to other individuals.

A pizza producer can prevent someone who does not pay for the pizza from eating it. Therefore, pizza is excludable.

When one person eats it, no one else can eat it. So pizza is also rival in consumption.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Economics Concept Introduction

Concept Introduction:

Consumption: Consumption refers to the purchase of goods and services in order to satisfy human wants.

Answer 12

Ch. 11.1 - Prob. 1QQ Ch. 11.2 - Prob. 2QQ Ch. 11.3 - Prob. 3QQ Ch. 11 - Prob. 1QR Ch. 11 - Prob. 2QR Ch. 11 - Prob. 3QR Ch. 11 - Prob. 4QR Ch. 11 - Prob. 1QCMC Ch. 11 - Prob. 2QCMC Ch. 11 - Prob. 3QCMC

Excludable goods and rival in consumption.

Solution Summary: The author explains that excludeable commodities are the commodities that can be excluded from people to consume them or acquire benefit of the commodity. Consumption of private goods and common goods by one person reduces the availability of that good to other individuals

Excludable goods and rival in consumption.

Explanation of Solution

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