A.A club good such as Netflix subscriptions is:

		Non-rival and non-excludable
		Rival and excludable
		Non-rival, but excludable
		Rival, but non-excludable

B.The term economies of scale refers to:

		A situation in which the firms marginal cost curve slopes downward as more output is produced.
		A situation in which an increase in a firms level of output lowers the average costs of production.
		A situation in which the firms average total cost curve shifts upward as more output is produced.
		A situation in which the firms average total cost curve has a negative slope at low levels of output.

C.Which of the following results in a natural monopoly?

		When a firm own a key resource.
		When a single firm is able to produce at a lower average cost than two or more firms.
		When there is a government license is required before a firm can sell a good or service.
		When the government grants a firm the exclusive right to supply a good or service.