Answer and Explanation:
As per the data given in the question,
For incremental revenue the selling price of UB40 should be considered before and to verify incremental profit., after the further process and the value of additional cost should be considered
Hence, I, II, III, IV are relevant for decision making and V is irrelevant for decision making because it is sunk cost.
The Odyssey was written by Homer. It is one of the two major Greek epic poems that Homer wrote. This poem is about the Greek hero, Odysseus and his journey home after the city of Troy fell at the end of the ten-year Trojan War. When Odysseus leaves to fight in the Trojan War, he leaves Odysseus's son's teacher and overseer, <span>Mentor in charge of his whole household. Therefore Mentor looks after Odysseus's son during Odysseus's absence.</span>
Answer:
1. Fish in private stream (rival/Excludable). Fish in River (rival/non Excludable)
2. Fish in Private stream (private good). Fish in River (common resource)
3. Tragedy of commons
Explanation:
1. The fish in the private stream are Rival in consumption and Excludable while the fish in the river are Rival in consumption and Non- Excludable
2. The fish in the private stream is a private good, the fish in the river is a common resource.
A private good must be purchased to be consumed. Consumption by one person prevents another person from consuming it hence it is rival and Excludable. A common resource like the river benefits all individuals because it is not owned by any one individual. A common resource stands the risk of depletion and over consumption.
3. Fishing in the river will lead to tragedy of the commons because anyone can fish in the river, and one person's fishing activity decreases the ability of someone else to fish with success.
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