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Author Question: Which of the following goods is rival in consumption and is also excludable? A) A fireworks ... (Read 52 times)

wrbasek0

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on: Jun 29, 2018
Which of the following goods is rival in consumption and is also excludable?
 
  A) A fireworks display
  B) A movie shown on cable television
  C) A DVD
  D) A magic show in a public park.

Question 2

Why do prices have to be based on supply and demand, rather than cost?
 
  A) Costs, unlike supply and demand, are based on subjective factors.
  B) People cannot be compelled to base prices on costs
  C) People should be free to set whatever prices they prefer.
  D) Supply and demand determine costs.
  E) Because basing prices on costs is less efficient than basing prices on supply and demand.


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nixon_s

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


wrbasek0

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

Mochi

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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