The table below shows the payoff (profit) matrix of Firm A and Firm B indicating the profit outcome that corresponds to each firm's pricing strategy (where $500 and $200 are the pricing strategies of two firms).Table 12.2

-A good that is both excludable and rivalrous is a(n):

Question

The table below shows the payoff (profit) matrix of Firm A and Firm B indicating the profit outcome that corresponds to each firm's pricing strategy (where $500 and $200 are the pricing strategies of two firms).Table 12.2
 
-A good that is both excludable and rivalrous is a(n):

Quizplus · Accepted Answer

A good that is both excludable and rivalrous is a private good. This means that it can be restricted to certain individuals who are willing and able to pay for it (excludable), and consumption by one individual reduces the amount available for others (rivalrous). Choices A, B, D, and E do not fit this description.

The Table Below Shows the Payoff (Profit) Matrix of Firm