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Classify each of the following goods using these terms: nonrival, nonexcludable, private good, public good, and common resource. a) Hamburger; b) Lighthouse; c) Flood control;
Classify each of the following goods using these terms: nonrival, nonexcludable, private good, public good, and common resource.
a) Hamburger;
b) Lighthouse;
c) Flood control;
d) Swimming pool in my backyard; e) Park;
f) Broadcast television;
g) Cellular telephone service;
h) Computer software;
i) Motorway;
j) Social distancing during Covid-19 pandemic
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