When Goods Are Rival in Consumption and Excludable, Markets

question 215

Multiple Choice

When goods are rival in consumption and excludable, markets:

• A) will not be able to produce the efficient quantity of the good.
• B) will produce an efficient quantity of the good.
• C) will consistently produce less than the efficient quantity of the good.
• D) will find that consumers are unwilling to purchase the good.

---

Definitions:

Reinforcement

A process in behavioral psychology that involves increasing the probability of a behavior by following it with a positive or negative stimulus.

Responses

Reactions or replies to stimuli or situations.

Punishment

Consequences applied with the intention of reducing or eliminating unwanted behavior.

Imitation

The action of using someone or something as a model and attempting to replicate their behavior or actions.