If a consumer buys a new pair of jeans for $100, he/she has exclusive use of that pair of jeans; hence, it is a private good.

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Quizplus · Accepted Answer

A private good is a type of good that is both excludable and rivalrous in consumption. In this case, the consumer buys a new pair of jeans for $100, which means that only he/she can use it, and its use does not affect anyone else's ability to use it. Therefore, it is a private good.

If a Consumer Buys a New Pair of Jeans for $100