RIVALRY

Rivalry

In economics, rivalry is a characteristic of a good. A good can be placed along a continuum ranging from rivalrous to non-rival. The same characteristic is sometimes referred to as subtractable or non-subtractable. A rival good is a good whose consumption by one consumer prevents simultaneous consumption by other consumers. Put differently, a good is considered non-rival if, for any level of production, the cost of providing it to a marginal individual is zero. Non-rivalry does not imply that the total production costs are low, but that the marginal production costs are zero. In reality, ...

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rivalry

Noun

  1. The relationship between two or more rivals who regularly compete with each other. The term usually applies to two rivals.
    The Boston Bruins have a longstanding rivalry with the Montreal Canadiens.
  2. In economics, rivalry is a characteristic of a good. Rivalrous goods are those which can be consumed by only one person at the same time -- for example, a candy bar or a suit; a non-rivalrous good may be provided to more consumers at a very low marginal cost for each additional consumer.


The above text is a snippet from Wiktionary: rivalry
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