Asked by
Natalie Stone
on Oct 26, 2024
Verified
As a big music fan,you want to attend a weekend blues festival in your town.The purchase of a wristband gives you and thousands of other fans access to the very large outdoor concert pavilion,where you all fit comfortably.The blues festival is a good that has the characteristics of being:
A) rival and excludable.
B) nonrival and excludable.
C) rival and nonexcludable.
D) nonrival and nonexcludable.
Blues Festival
A music festival focusing specifically on blues music, showcasing various artists and bands in the genre.
Nonrival
A characteristic of a good or service where one person's consumption does not diminish the ability of another to consume it as well.
Excludable
A property of a good or service that allows its owner to prevent others from using it without permission.
- Distinguish between goods that are excludable and those that are non-excludable.
- Distinguish between competitive and non-competitive goods.
Verified Answer
SJ
Learning Objectives
- Distinguish between goods that are excludable and those that are non-excludable.
- Distinguish between competitive and non-competitive goods.