Classifying a good as rival means A) that when one person ...

[stephzh]

Classifying a good as rival means
 
  A) that when one person consumes a unit of the good no one else can consume it.
  B) anyone who does not pay for the good cannot consume it.
  C) that the good is produced in a competitive market.
  D) that there is a shortage of the good.

Question 2

Adverse selection refers to the actions people take after they have entered into a transaction that make the other party to the transaction worse off.
 
  Indicate whether the statement is true or false

[hugthug12]

Answer to Question 1

A

Answer to Question 2

FALSE

[stephzh]

Thank you

[hugthug12]

Happy to help you