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An astronomical telescope has an objective of diameter 20 cm with a focal length of 180 cm.The telescope is used with an eyepiece of focal length 30 mm.What is the angular magnification of this telescope?
Public Good
A good that is non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from its use, and one individual's use does not reduce availability to others.
Asymmetric Information
A situation where one party to a market transaction has much more information about a product or service than the other. The result may be an under- or overallocation of resources.
Inefficient Outcomes
Situations where resources are not allocated optimally, resulting in potential losses in economic welfare.
Allocative Efficiency
A state of resource allocation where it is impossible to make any one individual better off without making someone else worse off, often achieved when marginal cost equals marginal benefit.
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