ECON1001 Study Guide - Quiz Guide: Public Good, Marginal Cost, Private Good

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The correct answer is: my consumption of the good does not prevent your consumption of it. The correct answer is: people cannot be effectively prevented from consuming the good. Select one: non-rivalrous but excludable, rivalrous and excludable, non-rivalrous and non-excludable, non-excludable but rivalrous. Select one: non-rivalrous and non-excludable, rivalrous but non-excludable, rivalrous and excludable, non-rivalrous but excludable. A lecture is one of the easiest ways to understand a club good. The lecture is excludable you can put a locked door on a lecture and charge entry. But the lecture is non-rivalrous having an extra person sit down doesn"t affect the lecture quality for anybody already seated. Select one: rivalrous but non-excludable, non-rivalrous and non-excludable, non-rivalrous but excludable, rivalrous and excludable. But if someone catches some fish, nobody else can catch those same fish. Select one: club good, public good, common pool resource, private good. Health care is excludable: you can put a door on the doctor"s office.

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