In Case of a Good That Is Nonrival in Consumption,the

question 24

Multiple Choice

In case of a good that is nonrival in consumption,the quantity of the good produced:

• A)increases with the increase in consumption.
• B)decreases with the increase in consumption
• C)is not affected by the change in consumption.
• D)is not affected by changes in the cost of production of the good.

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Definitions:

Ethical Decision Making

The practice of appraising and opting for choices in a manner that is in agreement with ethical norms.

Difference Principle

A principle suggesting that societal inequalities are only justified if they benefit the least advantaged members of society.

Economic Equalities

The state or goal of fair distribution of wealth and resources among individuals or groups, aiming for minimized financial disparities.

Social Equalities

The condition in which no differences in wealth, opportunities, and status exist among members of a society.