A Good Is Rivalrous in Consumption If

question 112

Multiple Choice

A good is rivalrous in consumption if

• A)its consumption by one person reduces its consumption by others.
• B)it can be used to satisfy many needs (as compared to just one need).
• C)it can be used to satisfy many wants (as compared to just one want).
• D)its consumption by one person increases its consumption by others.
• E)a and c

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Definitions:

Monthly Payments

Regular amounts paid monthly to amortize a debt or loan over a set period.

Monthly Payment

A fixed amount of money paid each month for a loan or mortgage over a set term.

Loan

Money that is loaned and needs to be paid back, including interest.

Compounded Semi-annually

Interest calculation method where interest is added to the principal amount twice a year, leading to the interest being compounded for the second term.