Economists consider a product such as a university education to be ________,whereas a product such as your local library is generally considered to be ________.
A)non-rivalrous and non-excludable; rivalrous and non-excludable
B)rivalrous and non-excludable; rivalrous and excludable
C)rivalrous and excludable; non-rivalrous and excludable
D)rivalrous and excludable; rivalrous and non-excludable
E)non-rivalrous and excludable; non-rivalrous and excludable

Question

Quizplus · Accepted Answer

A university education is rivalrous and excludable because it can be limited to those who pay and can become crowded. A local library is non-rivalrous and excludable because it can be accessed by many without reducing availability, but access can be restricted.

Economists Consider a Product Such as a University Education to Be