A rival good
A) is one that is used up as it is consumed.
B) is one that rival firms are trying to obtain.
C) is exclusive.
D) cannot be shared.
A
Economics
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Which of the following is a root cause behind competition inherent in every society?
a. Unlimited wants of the people b. People's desire to acquire goods and services for free c. Scarcity of goods and services d. Genetic makeup of people
Economics
A monopolistically competitive firm will
A) charge the same price as its competitors do. B) always produce at the minimum efficient scale of production. C) have some control over its price because its product is differentiated. D) produce an output level that is productively and allocatively efficient.
Economics