How would you classify a product supplied by a natural monopoly in terms of rivalry and excludability?

Multiple choice question for Public Goods. Select an option, then review the explanation below.

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It is rivalrous but cannot exclude consumersIt is neither rivalrous nor can consumers be excludedIt is non-rivalrous yet consumers can be excludedIt is both rivalrous and consumers can be excluded

Explanation

A natural monopoly typically provides a good that is non-rivalrous, meaning one person's consumption does not reduce availability for others, but it is excludable, allowing the provider to prevent non-payers from accessing the good.

Practice related questions from the same subject.

1.What term describes a good from which individuals can be prevented from accessing or using it?
2.Which of the following best illustrates a common resource?
3.Which type of good is impacted by a negative externality in a way that reduces market efficiency?
4.Which type of good does a positive externality influence market efficiency similarly to?
5.Who is described as a free rider in economic terms?

How would you classify a product supplied by a natural monopoly in terms of rivalry and excludability?

Explanation

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