List three examples of goods that do not fit neatly into the categories in Table 17.3 because
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Table 17.3: Rivalry and Exclusion
Transcribed Image Text:
Exclusion No Exclusion Private good: apple, pencil, computer, car Club good: cable television, concert, tennis club Open-access common property: fishery, freeway, park Public good: national defense, clean air, lighthouse Rivalry No Rivalry
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Rivalry means that only one person can consume the good The good is used up in consumption so it is ...View the full answer
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Related Book For
Microeconomics Theory and Applications with Calculus
ISBN: 978-0133019933
3rd edition
Authors: Jeffrey M. Perloff
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