Author Question: The principal feature of private goods is that A) they cannot be rented or purchased. B) ... (Read 66 times)

sheilaspns · **on:** Jun 29, 2018

The principal feature of private goods is that

A) they cannot be rented or purchased.
B) consumption by one person reduces the quantity available to others.
C) no one can be excluded from consumption of the product.
D) externality problems associated with their production are always negative.

Question 2

Refer to the above figure. Given our current level of technology and resources, the unobtainable point(s) of production would be

A) points a and c.
B) point a.
C) point b.
D) point c.