Determine if each of the goods below displays any of the following characteristics:
(i) rivalry
(ii) nonrivalry
(iii) excludability
(iv) nonexcludability
a. attending a Packers game at Lambeau Field
b. online encyclopedia Wikipedia
c. a shopping mall on Black Friday
d. an online defensive driving class
e. a Tesla Model S electric car
a. nonrival but excludable since admission requires purchase of a ticket
b. nonrival and nonexcludable
c. rivalry due to congestion although entry to the mall is nonexcludable
d. nonrival but excludable because those who did not pay for the class may not take the class
e. rival and excludable
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Incentives to provide resources to less qualified individuals are referred to as
a. adverse selection b. forced saving c. moral hazard d. seigniorage e. all of the above
Which of the following does the Sherman Antitrust Act forbid?
a. Monopolization or attempts to monopolize b. All types of price discrimination c. Competition among firms d. Unfair methods of competition e. Privatization of government owned firms