The value and cost of goods are easiest to determine when the goods are
A) private goods.
B) public goods.
C) common resources.
D) natural monopolies.

Question

Quizplus · Accepted Answer

Private goods have clear ownership and are rival in consumption, allowing for their value and cost to be easily determined through supply and demand. Public goods are non-rival and non-excludable, making it difficult to determine their value and cost. Common resources are rival but non-excludable, leading to potential overuse and difficulty in determining value and cost. Natural monopolies may have some pricing regulations and can be difficult to determine value and cost due to their unique market structure.

The Value and Cost of Goods Are Easiest to Determine