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Question 7 [25 marks] 7.1 Public goods are both nonrival and nonexclusive. Explain each of these terms and show clearly how they differ from each

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Question 7 [25 marks] 7.1 Public goods are both nonrival and nonexclusive. Explain each of these terms and show clearly how they differ from each other. (15 marks) 7.2 Demonstrate that a Lindahl equilibrium is indeed Pareto efficient. (10 marks) Question 8 [25 marks]

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