Which of the following statements is correct?
A) A private good is not rival in consumption but is excludable.
B) A public good is both rival in consumption and excludable.
C) A common resource is rival in consumption but not excludable.
D) A natural monopoly is neither rival in consumption nor excludable.
Correct Answer:
Verified
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Q52: When goods are available in an economy
Q54: Public goods are both
A)excludable and nonrival in
Q55: Which of the following goods is not
Q56: Which of the following would be considered
Q57: Common resources are both
A)excludable and nonrival in
Q58: An example of a common resource would
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