Goods That Are Non-Excludable and Non-Rival Are

question 155

Multiple Choice

Goods that are non-excludable and non-rival are:

• A)public goods
• B)private goods
• C)natural monopolies
• D)common resources

Identify factors that affect the elasticity of demand and supply.

Differentiate between elastic and inelastic demand and supply.

Recognize the implications of elasticity on pricing and revenue.

Analyze the impact of external factors on the price elasticity of goods and services.