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If a consumer could pay $100 for a new pair of jeans or $100 toward asteroid deflection,
what would that consumer likely choose?
I. purchase the jeans
II. purchase asteroid deflection
III. purchase both the jeans and asteroid deflection
A) I only
B) II only
C) III only
D) I and II only

Respuesta :

If a consumer could pay $100 for a new pair of jeans or $100 toward asteroid deflection, would that consumer likely choose purchase the jeans I only.

Which of the following products can be both excluded and competed with?

A private good is one that is both excludable and competitive in consumption.

Is reducing smog a public good?

Option c) is erroneous since pollution reduction, a lighthouse, and national defense are all public goods rather than rival goods.

Which of the following describes why fish from the ocean, like tuna, are a valuable resource?

Because it is hard to stop people from fishing in the ocean and because every time someone takes tuna, there is less tuna for the next person, tuna in the ocean is a common resource.

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