6 Private goods areExcludable and rival in consumptionExcludable but not rival in consumptionNot excludable and not rival in consumptionNot excludable but rival in consumption LaborOutput Fixed Cost Variable Cost(Number of workers) (Units) (Dollars)(Dollars)30110030152180303032403045428030603003075Refer to the table above, the total cost curve isO increasing at an increasing rate.O decreasing at a decreasing rate.O increasing at a decreasing rate.O increasing at a constant rate.

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Private goods are O Excludable and rival in consumption Excludable but not rival in consumption Not excludable and not rival in consumption Not excludable but rival in consumption

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

Private goods are
Excludable and rival in consumption
Excludable but not rival in consumption
Not excludable and not rival in consumption
Not excludable but rival in consumption

Labor
Output Fixed Cost Variable Cost
(Number of workers) (Units) (Dollars)
(Dollars)
30
1
100
30
15
2
180
30
30
3
240
30
45
4
280
30
60
300
30
75
Refer to the table above, the total cost curve is
O increasing at an increasing rate.
O decreasing at a decreasing rate.
O increasing at a decreasing rate.
O increasing at a constant rate.

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