An artificially scarce good is:
A. rival in consumption and excludable.
B. not rival in consumption, but excludable.
C. rival in consumption, but not excludable.
D. not rival in consumption and not excludable.
B. not rival in consumption, but excludable.
Economics
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At __________ income levels on the LM curve, the interest rate must be __________
A) higher; lower B) lower; higher C) higher; unchanged D) higher; higher
Economics
When the price of a good is higher than the equilibrium price, a. a shortage will exist
b. buyers desire to purchase more than is produced. c. sellers desire to produce and sell more than buyers wish to purchase. d. quantity demanded exceeds quantity supplied.
Economics