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Econ 221 PS5 Spring 2023 2) Classifications of Goods (8 points) a. Completely the table below by specifying whether each good or service is (1) rival or non- rival, (2) excludable or non-excludable, and (3) a public good, private good, common resource, or club good (artificially scarce good). Good (1) Rivalry (2) Excludability (3) Type of Good Toothpaste Netflix Street lights Forests (for logging) Toll Road / Bridge Open-Source Software b. Choose two of the goods above that would generate market failures if provided in a private market. For each, identify the type of failure that is caused (either the free-rider problem or tragedy of the commons) and then briefly describe what you believe to be the most realistic and appropriate solution to deal with the market failures (1-2 sentences is fine for each). Remember that these failures have three general solutions: changing social norms, adding property rights to make the goods excludable, or direct government intervention (such as provision or bans/quotas). Be sure you are identifying and describing the most appropriate option in the context of the specific good you choose