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What once was an open pasture on a long abandoned farm has changed over time,without the direct influence of humans.After the cattle had been removed,shrubs and bushes could be seen dotting the grass-covered hillsides.A few years later,small pine trees and then larger deciduous trees appeared.Now,there are so many trees and shaded regions it is difficult to tell that this was once a field.
-The changes in this field,from grasses to shrubs to trees,represent
Nonrival
A characteristic of a good or service where one person's consumption does not reduce its availability for others, often used in the context of public goods.
Efficient Price
A price level where the quantity supplied equals the quantity demanded, leading to an optimal allocation of resources.
Nonrival
A characteristic of goods where one person's consumption does not reduce the availability of the good for consumption by others.
Nonexcludable
A characteristic of a good or service where it is impossible to prevent individuals from enjoying its benefits once it is provided.
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