Examlex
Marginal analysis should be used in "either-or" decisions.
Free Rider
An individual who benefits from resources, goods, or services without paying for the cost of the benefit.
Nonexcludable
Describes a good or service that prevents individuals from being excluded from using it; typically, because it is not feasible or cost-effective to do so.
Inefficiently High Level
A scenario where more resources are used than necessary, leading to waste and inefficiency.
Common Resource
A type of good that provides benefits to many individuals, but which has the potential to be depleted or overused because it is not excludable.
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