Economics
Economics
5th Edition
ISBN: 9781319066604
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
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Chapter 17, Problem 2BCQ
To determine

Concept Introduction:

Public good: A good or service whose consumption by a person will not result in a reduction of its amount for the other person of the society and no one from the society can be excluded from the use of public goods. A Public good can be said as a good which is non-rival and even non-excludable. Some examples of public goods are:public parks, national defense and sewer system.

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