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Write the logarithmic equation in exponential form.
Public Good
A product or service that is provided without profit to all members of a society, either by the government or by a private individual or organization.
Non-excludable
Characterizes goods or services that cannot easily prevent people who do not pay from consuming or using them, such as public goods.
Non-rivalrous
A characteristic of a good whereby one person's use does not diminish the utility or availability of that good for others.
Laissez-faire System
A laissez-faire system is an economic principle advocating minimal government intervention in the operations of free markets and the economic decisions of individuals and businesses.
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