When consumption is rival and excludable, the product is a
A) public good.
B) private good.
C) mixed good.
D) service, not a good.

Question

Quizplus · Accepted Answer

When consumption is rival and excludable, the product is a private good. This means that the consumption of the good by one person prevents others from consuming it, and that it is possible to exclude people from consuming the good if they do not pay for it.

When Consumption Is Rival and Excludable, the Product Is a