What Does It Mean for a Good to Be "Nonexcludable

question 13

Essay

What does it mean for a good to be "nonexcludable"? Are private goods nonexcludable? Are public goods nonexcludable? Are common resources nonexcludable?

Understand the application and limitations of backward induction and subgame perfection.

Assess the effects of potential entry and exit strategies in competitive markets.

Understand the concept of Nash equilibrium and its implications in game theory.

Grasp the distinctions between different market structures such as Stackelberg duopoly and collusive duopoly.