Define what a public good is and give an example

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Define what a public good is and give an example. Make sure to mention and explain the two key characteristics of a public good that make it different from a private good. (Hint: The beginning pages of chapter 36 in Varian are helpful for this question.) What is the free-rider problem? What kind of strategic interaction (game) does it result in?

Reference no: EM131244217

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