Examlex
For a company which produce its products in batches, the CEO's salary is a(n) ________ cost.
Public Good
A product that is non-excludable and non-rivalrous in consumption, meaning it is available to all members of society without depletion.
Nonrival
Refers to a good where one person's use does not reduce the amount available for others.
Nonexcludable
A characteristic of goods where it is difficult or impossible to prevent people from using the good once it has been provided.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they are available to every individual without diminishing availability to others, such as national defense, public parks, and clean air.
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