Multiple Choice
Which of the following is the best example of a nondurable good?
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8. The Types of Goods
Four Types of Goods and Two Characteristics
Multiple Choice
Which of the following goods would be considered a rivalrous private good?
A
A slice of pizza
B
A public park during off-peak hours
C
National defense
D
Street lighting
Verified step by step guidance1
Understand the definition of a rivalrous good: A good is rivalrous if one person's consumption of it reduces the amount available for others to consume.
Understand the definition of a private good: A private good is both rivalrous and excludable, meaning people can be prevented from using it if they do not pay.
Analyze each option to determine if it is rivalrous and excludable. For example, a slice of pizza is rivalrous because if one person eats it, others cannot consume the same slice.
Check if the other options are rivalrous: A public park during off-peak hours is typically non-rivalrous because one person's use does not reduce availability for others; national defense and street lighting are classic examples of non-rivalrous public goods.
Conclude that the slice of pizza fits the criteria of a rivalrous private good, while the others do not.
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