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A lighthouse is an example of a private good that is both non-excludable and non-rivalry in production

Economics

A lighthouse is an example of a private good that is both non-excludable and non-rivalry in production.

a. True

b. False

Microeconomic efficiency occurs when:

a. MB > MC

b. Value > price

c. MB = MC

d. Value = price

What can the government do to encourage merit goods?

a. Taxes

b. Coercion

c. Subsidies

d. Prohibition

e. Tax breaks

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