A good that is both rival and exclusive is called
a. a private good
b. a public good
c. a quasi-private good
d. an external good
e. an open access good
A
Economics
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Which of the following is not true about utility? a. Utility varies from individual to individual
b. Marginal utility tends to decline, the more of a good or service is consumed. c. When marginal utility is at its maximum, total utility is zero. d. All of the above are true about utility.
Economics
The Malthusian prospect of starvation of the population could be prevented by: a. increasing the amount of land available for agriculture
b. investing in research and development of new technologies. c. expanding food production on available land. d. all of the above
Economics