How the price of a product has no effect on demand

Reference no: EM13184582

Economists maintain that the price of a product has no effect on demand. How can this be true?
National defense is considered a public good because there appears to be no limits to the nonrivalry-in-consumption characteristic, and exclusion of nonpayers is impossible. Are there any other goods that so perfectly meet both public goods criteria?
Congressman Localstuff always votes for a balanced budget amendment to the U.S. Constitution. He also always votes for spending bills supported by the leadership of his political party. Is this rational?

Reference no: EM13184582

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