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1. A public good has the following characteristic(s):

a. It is non-exclusive.
b. It has a free-rider problem.
c. It causes market failure.
d. It can be corrected by assigning property rights.
e. All of the above.
e. All of the above. Each of these is a characteristic of public good.

2. Education has a _____________.

a. negative externality.
b. positive externality.
c. private ...

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