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An Example of a Good That Is Non-Rival but Exclusive

question 14

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An example of a good that is non-rival but exclusive is:


Definitions:

Implied Warranty

A legally assumed guarantee that a product will meet certain quality and reliability standards.

Warranty Of Fitness

A guarantee provided by a seller that the goods or services sold will be appropriate and suitable for the specified purpose.

Express Warranty

A clearly stated guarantee provided by a seller regarding the condition or quality of a product.

Implied Warranty

An unwritten, unstated guarantee that a product will meet basic standards of quality and reliability.

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