What are the two characteristics that differentiate private goods from public goods? A. Rivalry and excludability...
What are the two characteristics that differentiate private goods from public goods? A. Rivalry and excludability B. Negative externality and positive externality C. Marginal cost and marginal benefit D. Ownership and usage
Homework Answers
Option A) Rivalry and excludability.
Private goods are both excludable and rivalrous in nature.
Rivalrous: If one person is consuming a private good, then in effect, he is excluding other people from consuming that same good as he uses it all up.
Excludability: A good is excludable if you can prevent other prople from using it and in private goods the owner can easily prevent other people from using his good because he has ownership rights.
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What are the two
characteristics that differentiate private goods from public goods?
A. Rivalry and excludability...
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Question One We can rank goods by two dimensions: (a) how much is the rivalry of...
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QUESTION 25 Terms of trade is Ca. the absolute advantage of production of two goods b....
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