*Public goods* are characterized by two main properties: *non-excludability* (it is not possible to prevent someone from using the good) and *non-rivalry* (one person's use of the good does not reduce its availability to others).
Hence, the correct answer is (b).
Which of the following are applicable to the individual's expenditure function?
(A) It is homogeneous of degree zero in all prices.
(B) It represents the maximum expenditure to achieve a given level of utility.
(C) It is non-decreasing in prices.
(D) It is concave in prices.
Choose the correct answer from the options given below:
Match List-I with List-II and choose the correct answer:
Match List-I with List-II:
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