Fill in the blanks to make the following statements correct. 1. 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 2. A good that is rivalrous and non-excludable (e.g., fish in the ocean, or common grazing land) is known as a and tends to be overused by 3. 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 allocation efficient price is 4. Goods and services that are non-rivalrous and non-excludable (e.g., national defence, a lighthouse) are known as Private markets will not provide these goods or services because of the problem. 5. If an auto mechanic tells you that your car needs a new transmission, there is the possibility of market failure in the form of 6. If you take up cliff diving as a new hobby and increase your life insurance, just in case, there is a possible market failure in the form of