EconTalk cover image

Don Boudreaux on Coase

EconTalk

The Marginal Cost Controversies and the Lighthouse and Economics

4min Snip

00:00
Play full episode
The marginal cost controversies in 19 forty six paper and iis very like allf costs. The insight mas will argue, well, you know, efficiency requires a output up to the point of ofwhere where marginal cost a equals price. And so which should be the price of crossing an uncongested bridge, say a motor is crossing? Well, says the naive economist, it should be zero. Because the cost of putting aside the small ware and terror tat's deminimous. So that person shouldn't be charged a pricei they shouldn't be discouraged from crossing. They shouldn't want them notexa. If we force the price down to zero, as some economists advocate

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode