Fill in the blanks to make the following statements correct.
a. A good or service that is rivalrous and excludable (e.g., a restaurant meal or a sofa) is known as a ______ good and is most efficiently provided by the ______.
b. A good that is rivalrous and non-excludable (e.g., fish in the ocean, or common grazing land) is known as an ______ and tends to be overused by______.
c. Goods that are non-rivalrous and excludable (e.g., roads, museums, and parks) are often provided by government because the marginal cost of provision to society is ______ and so the allocatively efficient price is ______.
d. Goods and services that are non-rivalrous and nonexcludable (e.g., national defence, a lighthouse) are known as ______. Private markets will not provide these goods or services because of the ______ problems.
e. If an auto mechanic tells you that your car needs a new transmission, there is the possibility of markets failure in the form of ______.
f. If you take up cliff diving as a new hobby and increase your life insurance, just in case, there is a possible markets failure in the form of ______.