Examlex
Nine employees of a company are selected at random and asked how far they commute to work each day. The distances (in miles) are as follows:
32, 18, 44, 29, 25, 38, 5, 48, 12
Estimate the mean commute distance of all employees of the company. Round your answer to the nearest tenth of a mile if necessary.
Common Resource
A resource like air or water that is non-excludable and rivalrous, meaning it's impossible to prevent anyone from using it, but one person's use diminishes another person's ability to use it.
Nonexcludable
A nonexcludable good is one where it is not possible to prevent people who have not paid for it from having access to it, typical in public goods.
Marginal Social Benefit
The additional benefit received by society as a whole from consuming one more unit of a good or service.
Public Good
A good or service offered to every member of a community free of charge, supplied either by the government or a non-profit private entity.
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