Talk About: -Saint Petersburg

question 114

Essay

Talk about:
-Saint Petersburg

---

Definitions:

Public Good

A product that is non-excludable and non-rivalrous in consumption, meaning its use by one individual does not reduce its availability to others.

Excludability

A characteristic of a good or service that allows owners or producers to prevent others from using it without permission.

Marginal-cost-marginal-benefit Rule

A principle suggesting that optimal decision making involves continuing an activity until the additional benefits no longer exceed the additional costs.