If the owners of a lighthouse receive payments from a nearby port for the lighthouse service, then the lighthouse is now closer to a public good.

Name: If the owners of a lighthouse receive payments from a nearby port for the lighthouse service, then the lighthouse is now closer to a public good.
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Question

Quizplus · Accepted Answer

A public good is non-excludable and non-rivalrous. If the lighthouse owners receive payments, it becomes excludable, thus not a pure public good.

If the Owners of a Lighthouse Receive Payments from a Nearby