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Suppose two goods, Jeff's Jumpers and Madison's Munchies, are economically desirable in that there is some positive output at which total benefits exceed total costs. If Jeff's Jumpers (J.J.) are characterized by nonrivalry and nonexcludability but good Madison's Munchies (M.M) are characterized by both rivalry and excludability, then:
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Draw a horizontal line. Label the left side of the line “Pure Market Economy” and the right side, “Pure Command Economy.” Place each of the following nations on your line at a place that you think accurately represents the current state of its economy: United States, China, North Korea, Sweden, Russia, Mexico. Research the economies of the countries not familiar to you. Be prepared to explain your placements.
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