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Author Question: What is a nonrival good? Give an example. What will be an ideal ... (Read 61 times)

RODY.ELKHALIL

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on: Jun 29, 2018
What is a nonrival good? Give an example.
 
  What will be an ideal response?

Question 2

Sam consumes only sandwiches and soda and maximizes his total utility. Suppose that the price of a sandwich falls. At the new consumer equilibrium, Sam substitutes ________ for ________.
 
  Sam's marginal utility from soda ________ and his marginal utility per dollar spent on sandwiches ________. A) sandwiches; soda; increases; increases
  B) soda; sandwiches; decreases; increases
  C) sandwiches; soda; increases; decreases
  D) soda; sandwiches; stays the same; stays the same


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juliaf

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A good is nonrival if its use by one person does not decrease the quantity available for someone else. An example of a nonrival good is the Internet.

Answer to Question 2

A


RODY.ELKHALIL

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

Liddy

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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