1. Explain what it means for a good to be rivalrous in consumption. 2. Explain what it...
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2. Explain what it means for a good to be nonrivalrous in consumption.
3. Explain what it means for a good to be excludable.
4. Explain what it means for a good to be nonexcludable.
5. Describe the free rider problem.
6. Describe the basis for accepting the public provision of nonexcludable public goods.
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1 A good is rivalrous in consumption if consumption by one person reduces the consumption ...View the full answer
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