A Private Good Is a Good or Service for Which

question 160

Multiple Choice

A private good is a good or service for which exclusion:

• A) is possible and for which marginal cost of an additional user is zero.
• B) is possible and for which marginal cost of an additional user is positive.
• C) cannot be applied and for which marginal cost of an additional user is zero.
• D) cannot be applied and for which marginal cost of an additional user is positive.

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Definitions:

Cost Of Goods Sold

The immediate expenses related to the creation of products sold by a business, encompassing both materials and labor costs.

Ending Inventory

The total value of all unsold goods remaining at the end of an accounting period.

Inventory Turnover Rate

A measure of how often inventory is sold and replaced over a period, indicating the efficiency of inventory management.

Cost Of Goods Sold

The immediate expenses related to the manufacturing of products a company sells.