Author Question: Private goods are those goods A) that violate the principle of rival consumption. B) for which ... (Read 70 times)

burchfield96 · **on:** Jun 29, 2018

Private goods are those goods

A) that violate the principle of rival consumption.
B) for which no public market exists.
C) that can only be consumed by one individual at a time.
D) to which the non-exclusion principle applies.

Question 2

Refer to the above figure. A unit tax has been placed on the good. What is the total amount of the tax?

A) 0
B) P2 - P0
C) P2 - P1
D) P1 - P0