A Good Is Most Likely to Be Artificially Scarce If

question 71

Multiple Choice

A good is most likely to be artificially scarce if:

• A) it is nonexcludable and nonrival.
• B) the seller is a monopolist.
• C) it is nonexcludable but rival.
• D) it is excludable but nonrival.

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Definitions:

19th Century

The period from January 1, 1801, to December 31, 1900, marking the nineteenth century of the Gregorian calendar.

Gross Investment

The sum of money used to acquire new capital assets, not considering depreciation expenses.

GDP

Gross Domestic Product, the total value of all goods and services produced within a country’s borders in a specific time period, used as a broad measure of economic performance.

Percentage Change

A mathematical calculation that shows how a quantity has changed over time as a proportion of the initial quantity, often used to measure growth or decline.