With Zero Marginal Cost, Broadcasted Music Becomes A Public Good !
Music, and in particular, Bollywood music, has enthralled and entertained millions of listeners for several decades. With its wide reach, and zero marginal cost, Bollywood music , being a good that is neither ‘rivaled’ nor ‘excludable’, must be considered a public good … an obvious conclusion that seems to have somehow, completely escaped the attention of economists. This realization makes Bollywood music a national treasure for India, and can have several interesting implications.
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