Question

In: Economics

Which of the following pairs of goods includes a good that isexcludable and rival in...

Which of the following pairs of goods includes a good that is excludable and rival in consumption as well as a good that is excludable and not rival in consumption?

Group of answer choices

A.pizza, cable TV

B.pair of pants, clean air

C.clean air, mathematical theorem

D.basic research, fireworks display

Solutions

Expert Solution

Ans (a) pizza, cable tv

Excludable means good for which it is possible to prevent consumers who have not paid for it from having access to it. Rival goods are whose consumption by one consumer prevents simultaneous consumption by other consumers. Non rival goods are those goods, if more than one person can consume the same unit of the good at the same time. (A good that is both excludable and rival in consumption is a private good.)

Rahul Sunny answered 2 years ago
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