How Does an Additional Individual's Consumption of a Good That

question 128

Multiple Choice

How does an additional individual's consumption of a good that is nonrival-in-consumption, such as a radio broadcast, affect the amount of the good available to other consumers?

• A) The amount available to others will decline.
• B) The amount available to others will increase.
• C) The amount available to others is unaffected.
• D) The amount available to others is eliminated.

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Definitions:

Trade

The swapping of goods and services between two or more parties, within a single economy or across multiple economies.

Opportunity Cost

Giving up on possible rewards from various other options by selecting a single alternative.

Absolute Advantage

A condition in which a country, individual, or company can produce a particular good or service at a lower cost in terms of labor and resources than other entities.

Compasses

Navigation instruments used for determining direction relative to the Earth's magnetic poles.