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Questions and Answers
What characteristic defines a public good?
What is a key reason why markets do not exist for nonexclusive public goods like clean air?
Which type of good is subject to exclusion but is nonrival in consumption?
What does the social demand curve for a public good represent?
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In what scenario can markets exist for public goods?
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Why can too little production occur when it comes to public goods?
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What does a private good possess that a public good does not?
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Which type of intervention is rare when it comes to regulating club goods?
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Which type of good produces a positive externality?
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Why is excluding anyone from consuming a public good considered inefficient?
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