Question
2. Which of the following goods is nonrival in consumption and excludable? a. Grand Canyon National Park on a rainy, cool day b. Disney
2. Which of the following goods is nonrival in consumption and excludable? a. Grand Canyon National Park on a rainy, cool day b. Disney World on a rainy, cool day c. a crowded public beach on a sunny, warm day d. White Mountain ski resort on a sunny, mild day 3. Which of the following goods is excludable but not rival in consumption? a. a noncongested toll road b. fire protection in a small town c. a tornado siren d. whales in the ocean 4. Answer the following questions given the short-run cost information (in $) in the table below. Q 0 1 2 3 45 6 TC 10 15 18 22 30 40 55 FC VC MC ATC 1) What are fixed costs for this firm and why? 2) Fill in the VC, MC, ATC, AVC and AFV columns. AVC AFC
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