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s for Review 1. Explain what is meant by a good being excludable Explain what is meant by a good being rival in consumption Is
s for Review 1. Explain what is meant by a good being "excludable" Explain what is meant by a good being "rival in consumption" Is a slice of pizza excludable? Is it rival in consumption? 2. Define and give an example of a public good. Can the private market provide this good on its own? Explain. 3. What is cost-benefit analysis of public goods? Why is it important? Why is it hard? 4. Define and give an example of a common resource. Without government intervention, wilpeople use this good too much or too litie? Why
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