Explain the concepts of Rival,
NonRival, Exclusive and NonExclusive in regards to Economics. What
is the nonexclusive aspect of a public good?
Please use the Matrix. Show the relationships between rival
goods, nonrival goods, exclusive goods and nonexclusive goods with
private goods, public goods, regulated monopoly, and tragedy of the
commons.
Give examples from common social practice or class
to illustrate your answer (you must use the concept and definition
of the Coase Solution and Transaction Costs to explain this...