8. Free markets can deliver efficient levels of production and consumption for private goods, which are both
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8. Free markets can deliver efficient levels of production and consumption for private goods, which are both excludable and rival in consumption. When goods are nonexcludable, nonrival in consumption, or both, free markets cannot achieve efficient outcomes.
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Related Book For 
Essentials Of Economics
ISBN: 9781429218290
2nd Edition
Authors: Paul Krugman, Robin Wells, Kathryn Graddy
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