Nonrivalry Means

question 7

Multiple Choice

Nonrivalry means

• A)it is possible to prevent a person from enjoying the benefits of a good.
• B)consumption of a good does not decrease the consumption of the good by another person.
• C)the quantity of a good that a person is able to consume is not influenced by the amount the person pays for the good.
• D)the consumption of a good by one person decreases consumption of the good by another person.
• E)it is impossible or extremely costly to prevent someone from benefitting from a good.

---

Definitions:

Excess Capacity

A situation where a firm is operating below its maximum output capacity, indicating resources are not being used efficiently.

Monopolistic Competition

A market structure characterized by many sellers offering differentiated products, with some degree of market power.

Vacancy Rate

The percentage of all available units in a housing development or commercial property that are unoccupied or not rented at a given time.

Marginal Cost

Represents the cost incurred by producing one additional unit of a product or service.