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1) Which of the following goods is both nonrival and nonexcludable? a) A hot dog at a hot dog stand b) A soccer match in a stadium c) The light from a lighthouse at a harbor entrance d) A tuna in the ocean 2
1) Which of the following goods is both nonrival and nonexcludable?
a) A hot dog at a hot dog stand
b) A soccer match in a stadium
c) The light from a lighthouse at a harbor entrance
d) A tuna in the ocean
2. Which of the following goods is nonexcludable?
a) A pizza at a pizza parlor
b) A visit to the doctor at her office
c) A soccer match in a stadium
d) A tuna in the ocean
3. Which of the following goods is nonrival?
a) A visit to the doctor at her office
b) A tuna in the ocean
c) A pizza at a pizza parlor
d) A soccer match in a stadium
Expert Solution
- 1 c) The light from a lighthouse at a harbor entrance
The advantage that the lighthouse avail to the ship captain is both nonrival and nonexcludable in consumption.
- 2 d) A tuna in the ocean
Tuna is nonexcludable because it is difficult to stop an individual from fishing tuna in the ocean given the large size of an ocean.
- 3 d) A soccer match in a stadium
A soccer match is nonrival because when one is watching, he or she cannot diminish the ability of others to watch the match.
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