Question

1. A positional good is a good that

	generates utility based on rank ordering rather than absolute amounts.
	changes a consumer's position in the income distribution.
	has higher demand as income increases.
	has higher demand as the price increases.

2. Which of the following types of higher education institutions typically receive some funding from Federal research grants? more than one answer

	Private, for-profit.
	Community colleges.
	Public universities.
	Private, not-for-profit universities.

Answer 1

Q1) option A)

Value of a good depends upon the ranking of the good, how a good is distributed in the population.

So for positional goods, the consumption of the good falls, as the consumption of same good by others rise

Q2) option D)

public universities & non-profitable private colleges get grants