I’m following up here after doing some reading about public goods.
Public goods are (broadly speaking) better served through intervention by a central authority such as a government. As such, correctly identifying something as a public good helps explain why the (private) market has not provided a socially optimal quantity of that good.
I’m inclined to believe that bathrooms are excludable (because, for example, an entrepreneur can just put a lock on the bathroom that will only open after a credit card swipe/payment) and so are not public goods. Am I getting this wrong?
I’m following up here after doing some reading about public goods.
I’m inclined to believe that bathrooms are excludable (because, for example, an entrepreneur can just put a lock on the bathroom that will only open after a credit card swipe/payment) and so are not public goods. Am I getting this wrong?