Answer to Question #240940 in Microeconomics for jeshmita

Question

1.     Which of the following is NOT a characteristic of a private good?

A.   rivalry in consumption

B.    benefits of consumption are non-excludable

C.    consumption of the good precludes consumption by another individual

D.   the benefits to a consumer of consuming the good are exclusive to that individual

 

2.     Horizontal summing of individual demands yields

A.   the market demand for a private good

B.    the market supply of a private good

C.    the market demand for a public good

D.   the market supply of a public good

Answer 1

1. Benefits of consumptions are non-excludable.

2. The market demand for a private good.