In a perfectly competitive market, the efficient quantity of a good will be produced when the good is: rival in consumption and nonexcludable. rival in consumption and excludable. nonrival in consumption and excludable. nonrival in consumption and nonexcludable.

In a perfectly competitive market, the efficient quantity of a good will be produced when the good is: rival in consumption and nonexcludable. rival in consumption and excludable. nonrival in consumption and excludable. nonrival in consumption and nonexcludable.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In a perfectly competitive market, the efficient quantity of a good will be
produced when the good is:
rival in consumption and nonexcludable.
rival in consumption and excludable.
nonrival in consumption and excludable.
nonrival in consumption and nonexcludable.

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