1 1 . If persons can be excluded from the benefit of a near public good at...

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1 1 . If persons can be excluded from the benefit of a near public good at a low cost, the market mechanism can be used to allocate the good. However, some consumers, who evaluate the good positively, will be excluded by the pricing mechanism even though allowing them to consume the good would cost nothing, once the good has been produced.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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