$10 Units of a Resource 100 In Exhibit 11-2, total resource earnings at equilibrium equal A good that is rival but nonexclusive is called O $40 O a private good $60 a public good O $400 a...

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Extracted text: $10 Units of a Resource 100 In Exhibit 11-2, total resource earnings at equilibrium equal A good that is rival but nonexclusive is called O $40 O a private good $60 a public good O $400 a quasi-private good O $1,000 an external good O $300 an open access good Firms that face downward-saloping demand curves for their output are called perfectly competitive price taker price searchers resource price takers resource price searchers A change in demand for a resource can be caused by O proportion of economic rent in the total earnings of the resource opportunity cost of the resource price of the resource O achange in the number of firms producing the final product ease with which resources can be put to alternative uses