A Good Is MOST Likely to Be Artificially Scarce If

question 162

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:

Sale of Land

The transfer of ownership of a parcel of real estate from one party to another, typically through a legal process.

Excludes Liability

A clause or agreement that absolves one party from legal responsibility or damages in specific circumstances.

Fraud

Wrongful or criminal deception intended to result in financial or personal gain.

Equal Bargaining Power

The situation in which all parties involved in a negotiation or agreement have similar negotiating strength and no one side has undue influence over the other.