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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is the free rider problem?

To determine

The meaning of free rider problem is to be determined

Explanation

The situation of taking benefit of public goods without paying any cost by the consumer with the knowledge of the fact that they cannot be excluded from the consumption is termed free rider problem. In simple words, in the free ride problem, people pays cost for the public goods and some other people takes free ride on that purchase of goods...

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