Question

Though markets can provide goods that are excludable but nonrival, they do so at the price of: equity. inefficiency. inequity. efficiency

Answer 1

Though markets can provide goods that are excludable but nonrival, they do so at the price of inefficiency

Explanation:

An excludable but non-rival product is also known as 'club goods'

Unlike public goods which are accessible to everyone and have no rivals, club goods are not accessible to everyone, only to those who can pay for them. At the same time, they have no rivals in the market.

This is a clear indication of an inefficient economy because such a product means there is a monopoly operating in the market.

An example of this can be a cable operator in an area. It dominates the market and has no rivals or competitors but its service is only accessible to people who can pay for it. However, in the same area, a Free Public television channel is the opposite, having no rivals but also being accessible.

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