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Dormitory
A dormitory has two activating devices in each fire detector.One is smoke activated and has a probability of .98 of sounding an alarm when it should.The second is a heat sensitive activator and has a probability of .95 of operating when it should.Each activator operates independently of the other.Presume a fire starts near a detector.
-What is the probability that the detector will sound an alarm?
Free-rider Problem
A situation where individuals benefit from resources, goods, or services without paying for them, leading to underprovision of those public goods.
Nonrivalry
A property of goods where one person's consumption does not prevent consumption by others, typically relevant in the context of public goods.
Nonexcludability
Nonexcludability is a feature of public goods where it is not possible to prevent individuals from consuming the good, irrespective of whether they have contributed to its provision.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning no one can be effectively excluded from use and use by one does not reduce availability to others.
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