Author Question: When consumption is rival and excludable, the product is a A) public good. B) private good. C) ... (Read 132 times)

SAVANNAHHOOPER23 · **on:** Jun 29, 2018

When consumption is rival and excludable, the product is a

A) public good.
B) private good.
C) mixed good.
D) service, not a good.

Question 2

As a competitive firm hires increasing amounts of labor, the value of marginal product of labor

A) decreases.
B) increases.
C) remains constant.
D) decreases then increases.