Goods that are both nonexcludable and rival in consumption would be considered
A)natural monopolies.
B)common resources.
C)public goods.
D)private goods.

Question

Quizplus · Accepted Answer

Goods that are nonexcludable means that it is difficult or impossible to exclude certain individuals from enjoying the benefits of the good, while goods that are rival in consumption are those that cannot be consumed by two or more individuals simultaneously. Examples of such goods include fisheries, forests, and clean air. These are considered common resources. A natural monopoly is a situation in which one firm can supply the entire market at a lower cost than two or more firms. Public goods are nonexcludable and non-rival in consumption, while private goods are excludable and rival in consumption.

Goods That Are Both Nonexcludable and Rival in Consumption Would