Which of the Following Pairs of Goods Includes a Good

question 146

Multiple Choice

Which of the following pairs of goods includes a good that is excludable and rival in consumption as well as a good that is not excludable and not rival in consumption?

• A) pair of pants,uncongested toll road
• B) pair of pants,fireworks display
• C) fish in the ocean,national defense
• D) uncongested toll road,uncongested nontoll road

Describe methods used in the preservation and narration of African history, including oral and material forms.

Identify the geographical locations associated with various African art traditions and historical sites.

Understand the significance of leadership, power, and hierarchical structures as represented in African art objects.

Acknowledge the diversity and specialty of African art forms spanning from sculpture to textile.

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Definitions:

Inelastic

A characteristic of goods whereby a change in price leads to a relatively smaller change in the quantity demanded or supplied.

Total-revenue Test

A method used to determine the price elasticity of demand by observing changes in total revenue as a result of price alterations.

Demand

The volume of a commodity or service that buyers intend and can afford to buy across a range of prices over a set time frame.