P765-4321-DA01 2 34Private Good5678DB9MC10 11 12 Q Refer to Figure 11-1. Which of the following explains why widgets are not a private good?because they are excludable and rival in consumptionbecause they are non-excludable and non-rival in consumptionbecause they are non-excludable and rivalbecause they are excludable and non-rival in consumption

When the usage of commodity by an individual or entity does not decrease the consumption of same…

Answered: P 7 6 51 4 3 2 1 0 DA Private Good DB…

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Economics

P 7 6 51 4 3 2 1 0 DA Private Good DB MC 12 3 4 5 6 7 8 9 10 11 12 Q

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

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Private Good
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Refer to Figure 11-1. Which of the following explains why widgets are not a private good?
because they are excludable and rival in consumption
because they are non-excludable and non-rival in consumption
because they are non-excludable and rival
because they are excludable and non-rival in consumption

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