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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Give an example of each of the following:

  1. a. A good that is rivalrous in consumption and is excludable.
  2. b. A good that is nonrivalrous in consumption and is excludable.
  3. c. A good that is rivalrous in consumption and is nonexcludable.
  4. d. A good that is nonrivalrous in consumption and is nonexcludable.

(a)

To determine

Example of a good that is rival in consumption and is excludable.

Explanation

A good that is characterized by rival in consumption and is excludable ...

(b)

To determine

Example of a good that is non-rival in consumption and is excludable.

(c)

To determine

Example of a good that is rival in consumption and is non-excludable.

(d)

To determine

Example of a good that is non-rival in consumption and is non-excludable.

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