Private Goods Are Both

question 9

Multiple Choice

Private goods are both

• A)excludable and nonrival in consumption.
• B)nonexcludable and rival in consumption.
• C)excludable and rival in consumption.
• D)nonexcludable and nonrival consumption.

Understand the concept of marginal cost and how it affects decision-making in production.

Grasp the concept of marginal benefit and its importance in optimizing resource allocation.

Recognize the role of learning effects on marginal costs.

Apply economic principles in assessing optimal quantities of activity based on marginal analysis.