Multiple Choice (5 points each) 1. A cdub good is (a) Rival and excludable (b) N
ID: 1126236 • Letter: M
Question
Multiple Choice (5 points each) 1. A cdub good is (a) Rival and excludable (b) Non-rival and excludable (c) Rival and non-excludable (d) Nou-rival and non-excludable. (a) Rival and excludable. (b) Nou-rival and excludable. (c) Rival and non-excludable (d) Nou-rival and non-excludable. 3. Common-pool resources can suffer from which of the following Isstures? (a) Tragedy of the commous (b) Free-riding (d) Statistical bis 4. Cost-benefit analysis is consistent with which economic concept (a) Diminishing marginal utility (b) Risk and ambiguity aversion (e) If the marginal benefits exceed the marginal costs then an activity will tend to increase (d) The generalized axiom of revealed preference 5. UFC numbered events (e.g. UFC 205) are an example which type of good? (a) Private good. (b) Artificially scarce good. (c) Common resource. (d) Public good.Explanation / Answer
1> b
Club goods are a type of good in economics are excludable but non-rivalrous.
2> c
One's fishing from the pool will affect others, so it is a rival resource.
3>a
It occurs when everyone acts on self-interest and does not care about social optimum.
4> c
cost-benefit analysis can be done on the basis of marginal cost and benefit.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.