Explain what is meant by a good being rival. Give three examples of goods which exhibit the

Question:

Explain what is meant by a good being ‘rival’. Give three examples of goods which exhibit the characteristics of being rival in consumption.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

See More Books

Question Posted: Apr 25, 2024 01:01 AM

See More Questions

Portray in words what transforms you would have to make to your execution to some degree (a) to accomplish this and remark on the benefits and detriments of this thought.You are approached to compose...
Explain what is meant by a good being excludable. Explain what is meant by a good being Rival in consumption. Is a slice of pizza excludable? Is it Rival in consumption?
Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...
Andrew owns a commercial office building that is insured under three property insurance contracts. He has $100,000 of insurance from Company A, $200,000 from Company B, and $200,000 from Company C....
An investor believes that the U.S. dollar will rise in value relative to the Japanese yen. The same investor is considering two investments with identical risk and return characteristics: One is a...
Match correct purposes, contents, and users regarding SOC reports. Purposes/Contents/Users a. Easy to read by the general public in a summary format on security, availability, processing integrity,...
E8.10. Loss on the Conversion of Preferred Stock: Microsoft Corporation (Easy) In 1996, Microsoft issued 12.5 million convertible preferred shares carrying a dividend of 2.75 percent for $980...
A local TV station claims that 60% of people support Candidate A, 30% support Candidate B, and 10% support Candidate C. A survey of 500 registered voters is taken. The accompanying table indicates...
at the fin's exising atset
Explain how public goods might also lead to the free rider problem. Give an example to support your answer.
Explain what is meant by a good being excludable. Give three examples of goods which exhibit the characteristics of being excludable.
Eighty-one percent of U.S. households have DVD players. Choose 6 households at random. What is the probability that at least 1 does not have a DVD player?
Melannie Inc. sold $8,200 worth of merchandise on June 1, 2015 on credit. After inspecting the inventory, the customer determined that 10% of the items were defective and returned them to Melannie...
2. (20 marks) A firm wishes to produce a single product at one or more locations so that the total monthly cost is minimized subject to demand being satisfied. At each location there is a fixed...
Evaluate your own negotiation way. Do you have one? how you consider having an excellent negotiaiton skill could help any business person to achieve its goals.
j. Interest was accrued on the note receivable received on October 17 ($100,000, 90-day, 9% note). Assume 360 days per year. Date Description Dec. 31 Interest Receivable Interest Revenue Debit Credit
A Chief Risk Officer (CRO) is interested in understanding how employees can benefit from AI assistants in a way that reduces risk. How do you respond
A person has a hearing loss of 30 dB for a particular frequency. What is the sound intensity that is heard at this frequency that has an intensity of the threshold of pain?
If the annual fixed costs are 54,000 dinars, the occupation expense represents 20%, the contribution margin is 25%, and the unit selling price is 40 dinars. Required: Calculate the closing point of...
The following schedule reconciles Cele Co.'s pretax GAAP income Pretax GAAP income Nondeductible expense for fines Tax deductible depreciation in excess of GAAP depreciation expens Taxable rental...
How to solve general ledger cash balance chapter 9 assignment 5
On 31 July 2018, Sipho bought 1 000 ordinary shares in ABC Ltd at a cost of R2 750. On 31 December 2018 the company made a 1 for 10 bonus issue. On 31 March 2019, Sipho sold 300 shares for R800. What...

Explain what is meant by a good being rival. Give three examples of goods which exhibit the

Question:

Step by Step Answer:

A good is considered rival when its consumption by one individual reduces the availability or utilit...View the full answer

Economics

Students also viewed these Business questions