Which of the following is a rival good that is nonexcludable?
a. public good
b. private good
c. common resource
d. none of the above
c
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Money demand behavior may
A) change as a result of demographic trends or financial innovations such as electronic cash-transfer facilities. B) change only as a result of demographic trends. C) change only as a result of financial innovations such as electronic cash-transfer facilities. D) not change as a result of demographic trends or financial innovations such as electronic cash-transfer facilities. E) change as a result of demographic trends but not as a result of financial innovations such as electronic cash-transfer facilities.
A firm's opportunity cost of using resources provided by the firm's owners is called
a. sunk costs b. fixed costs c. explicit costs d. implicit costs e. entrepreneurial costs