What role property rights play in creating common property

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What role do property rights play in creating common property resources? Why are common property resources subject to market failure due to non-excludability?

What two properties characterize public goods? b. To avoid market failure, what price must be charged for public goods? why?

Reference no: EM13154995

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What role property rights play in creating common property : What role do property rights play in creating common property resources? Why are common property resources subject to market failure due to non-excludability?

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