A good or service or a resource is nonrival if
A) it is possible to prevent someone from enjoying its benefits.
B) it is not possible to prevent someone from enjoying its benefits.
C) its use by one person decreases the quantity available for someone else.
D) its use by one person does not decrease the quantity available for someone else.
Question 2
Sue's Surfboards is the sole renter of surfboards on Big Wave Island. If marginal revenue is positive at the number of surfboard rentals made each hour, then Sue's Surfboards
A) must face an elastic demand for surfboard rentals.
B) must face an inelastic demand for surfboard rentals.
C) can increase its total revenue by increasing the price of rentals.
D) must face a unit elastic demand for surfboard rentals.
A good Mnemonic to know Mg K Ca Na
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