A vacation home in Malibu is Select one: a. not rival in consumption and excludable. b....
A vacation home in Malibu is Select one:
a. not rival in consumption and excludable.
b. rival in consumption and excludable.
c. not rival in consumption and not excludable.
d. rival in consumption and not excludable.
Homework Answers
Excludable means not open for everyone and sometimes based on first come first serve basis.
Rival means it is having competitors.
Here also a vacation home in Malibu will have Rival and excludable consumption because it is having rival from its competitors like different vacation homes and it will be excludable also because suppose it is having limited rooms.
It will work on First Come First serve basis
So the answer is option B.
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A vacation home in Malibu is Select one:
a. not rival in consumption and excludable.
b....
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