D Question 34 1 pts The air is a good. O private public club common-resource D Q

Question

D Question 34 1 pts The air is a good. O private public club common-resource D Question 35 1 pts The real-income effect O occurs when utility declines as consumption increases. O is the additional satisfaction derived from consuming one more unit of a good or service. O is the combination of goods and services that maximizes utility for a given income occurs when a consumer buys more of a good as a result of a relative price change. O occurs when there is a change in purchasing power as a result of a change in the price of a good.

Explanation / Answer

34. Air is a public good.

OPTION B

35. The real income effect is the change in the purchasing power which is a result of change in price of a good.

OPTION D

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