A pure private good is
A. nonrival in consumption and subject to exclusion.
B. rival in consumption and subject to exclusion.
C. rival in consumption and not subject to exclusion.
D. all of these answer options are correct.
B. rival in consumption and subject to exclusion.
Economics
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Kedran is indifferent between option A, which gives her $10,000 for sure, and option B, which gives her $5,000 with probability 0.4 or $15,000 with probability 0.6. Kedran's cost of risk for option B is
A) zero. B) $1,000. C) $5,000. D) $10,000.
Economics
Which of the following is NOT counted as an economic resource?
a. Forests. b. Mental abilities of labor. c. Stocks and bonds. d. Entrepreneurship. e. All of the above are included.
Economics