A util is a single unit of:

If Safeway reduced its grocery prices below cost in a particular metropolitan area and kept them there until all other grocery stores in the area had been forced into bankruptcy, Walmart would almost certainly sustain huge net losses

A) in the short run and the long run because grocery stores would reappear quickly when Walmart subsequently set high prices. B) in the short run but not in the long run because it could charge very high prices afterward. C) in the short run but not in the long run because the policy would lower Walmart's costs of buying from suppliers. D) only if the government enforced the antitrust laws in a fair and even-handed way.

Which of the following statements about private goods and public goods is correct?

a. Private goods and public goods are both excludable. b. Private goods and public goods are both rival in consumption. c. Private goods are not excludable and public goods are excludable. d. Private goods are rival in consumption and public goods are not excludable.