Which of the following statements is true?O If a good is nonrivalrous in consumption then it is nonexcludable, too.O A good can be rivalrous in consumption but not nonexcludable, to0.O An apple is nonrivalrous in consumption.O Many economists maintain that the market fails to produce nonexcludableO none of the above

There are four types of goods, Private goods Public goods Club goods Common resources

Which of the following statements is true? O If a good is nonrivalrous in consumption then it is nonexcludable, too. O A good can be rivalrous in consumption but not nonexcludable, too. O An apple is nonrivalrous in consumption. D Many economists maintain that the market fails to produce nonexcluda O none of the above

Which of the following statements is true? O If a good is nonrivalrous in consumption then it is nonexcludable, too. O A good can be rivalrous in consumption but not nonexcludable, too. O An apple is nonrivalrous in consumption. D Many economists maintain that the market fails to produce nonexcluda O none of the above

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Public Goods And Common Resources

Section: Chapter Questions

Problem 1QR

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