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Public versus private goods

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Describe the difference between public versus private goods as it relates to the rivalry in consumption and excludability. does the free rider principle play in a role in what constitutes a private or a public good/service? why? how do externalities positive or negative play a role regarding the demand and supply of a good or a service and what can government do to promote greater social welfare and reduce market failure in addressing negative externalities?

Reference no: EM131441819

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