Which of the Following Displays Rivalry and Excludability in Consumption

question 39

Multiple Choice

Which of the following displays rivalry and excludability in consumption?

• A)public goods
• B)private goods
• C)quasi-public goods
• D)common resources

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Definitions:

Utility-Maximizing Combination

A selection of goods and/or services that provides the highest level of satisfaction or utility to a consumer, given their budget constraints.

Total Utility

The total satisfaction or benefit received by consuming a particular quantity of a good or service.

Marginal-Utility Schedules

Charts or tables showing the relationship between the quantity of a good consumed and the marginal utility or satisfaction received from consuming each additional unit.

Maximum Utility

The highest level of satisfaction or benefit that a consumer can obtain from consuming goods and services, given their income and prices of goods.