Most college courses have a required textbook. Previously, ...

[abarnes]

Most college courses have a required textbook. Previously, textbooks were only available through the campus bookstore, but now, these texts can be purchased from online retailers, other bookstores, or students can buy an electronic version of the
 
  text. Because of this, we can predict the price elasticity of demand for textbooks from the campus bookstore is ________. A) increasing
  B) decreasing
  C) staying the same
  D) increasing and then decreasing

Question 2

What are the differences between public goods and private goods?
 
  What will be an ideal response?

[katkat_flores]

Answer to Question 1

A

Answer to Question 2

Public goods are
 nonrival, which means that consumption by one person doesn't decrease the quantity available for others people, and
 nonexcludable, so that a good is nonexcludable if everyone benefits from it regardless of whether they pay for it.

In contrast, private goods are
 rival, so that consumption by one person decreases the quantity available for other people and
 excludable, which means that only the people who pay for the good are able to enjoy its benefits.