When a good is rival and excludable,it is a
A)natural monopoly.
B)public good.
C)regulated good.
D)private good.
E)common resource.

Question

Quizplus · Accepted Answer

Private goods are characterized as rival and excludable. Rivalry implies that consumption by one individual reduces the amount of the good available for others to consume, while excludability means that it is possible to prevent people from consuming the good if they do not pay for it. Examples of private goods include clothing, food, and electronics, among others.

When a Good Is Rival and Excludable,it Is a