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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Related Book For
Economics Private And Public Choice
ISBN: 9780123110404
2nd Edition
Authors: James D Gwartney; Richard Stroup; A H Studenmund
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