Author Question: For a good to be nonrival, then A) one person's consumption of that good does not decrease ... (Read 80 times)

RRMR · **on:** Jun 29, 2018

For a good to be nonrival, then

A) one person's consumption of that good does not decrease another person's consumption of that good.
B) a person cannot be prevented from consuming that good even if he or she did not pay for it.
C) a person is willing to pay any price to ensure that the product is available.
D) a person is not willing to pay for the good because even without paying for it, the person can consume the good anyway.

Question 2

Long-distance travel by bus is an inferior good. As people's incomes increase and other things remain the same, you predict that the

A) price of long-distance travel by bus will fall and the demand for long-distance travel by bus will increase.
B) price of long-distance travel by bus will fall.
C) demand for long-distance travel by bus will decrease and the price will rise.
D) demand for long-distance travel by bus will increase as the price of long-distance travel by bus falls.