Question

For each of the goods, classify them according to whether they are rivalrous, nonrivalrous, excludable, or nonexcludable. Rivalrous is also referred to as rival in consumption. A sports team t-shirt rivalrous and excludable nonrivalrous and nonexcludable rivalrous and nonexcludable nonrivalrous and excludable The air we breathe rivalrous and excludable nonrivalrous and nonexcludable nonrivalrous and excludable rivalrous and nonexcludable

Answer 1

Consider the following explanation

Step-by-step explanation:

A sports team t-shirt:

Correct Answer:

Rivalrous and Excludable

(Sports team T-shirt is private good that comes at a cost to make others to pay before wear.

The air we breathe:

Correct Answer:

Nonrivalrous and nonexcludable

It is a pure public good that can be used by many at the same point without any cost paid.

Atlantic Bluefin Tuna in the Mediterranean Sea:

Correct Answer:

Rivalrous and nonexcludable

One Tuna can be caught by one person only but entering into the area cannot be prevented.

A toll road in normal traffic:

Correct Answer:

Nonrivalrous and excludable

It is a public system that can be used by many at a time. But, everyone has to pay the toll tax before using it.