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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Name at least five government-provided goods that are excludable public goods.

To determine

Explain the statement about the externality and how it will be corrected.

Explanation

A public good refers to the goods that have the characteristics of non-rivalry and non-excludability in nature. One person’s consumption should not reduce the availability for the other person. In other words, it is not possible to restrict other people from availing the goods they desire...

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