What is a nonrival good? Give an example
What will be an ideal response?
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.
Economics
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The parity price ratio is defined by the equation
a. prices paid by farmers prices received by farmers b. prices received by farmersprices paid by farmers c. loans received by farmersprices paid by farmers d. prices received by farmerstotal farm subsidies e. total farm loans total farm subsidies
Economics
Figure 5-17
In Figure 5-17, the consumer would prefer
a.
D to C.
b.
B to D.
c.
C to B or A.
d.
D to A but not B.
Economics