Public goods (You plan to study Economics at University?)

Imagine a listener supported radio station.

The station should be able to raise approximately the same amount of money if it had 5 listeners or 50,000.

5 listeners will not support a station i.e. they will not give enough.

Therefore sucha radio station cannot exist.

But it does.

Nonsense?

Have a read of this - and enjoy the Maths.