Explain the PRIVATE COST and SOCIAL COST of education by using g

Q: examples from the Palestinian economy classified as negative externality of consumption and then…

A: Negative externality of consumption occurs when by consumption of a good causes a harmful effect to…

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A: Marginal benefit: It is a maximum amount that a consumer is willing to pay for an additional good or…

Q: Refer to the shaded area on the graph to the right. The social cost of common access is the area of…

A: “Private cost is the actual cost incurred during an economic activity, such as production.”…

Q: Which one of the following is a definition of a merit good? A) Services which can only be provided…

A: Part A Merit goods are those goods that are underconsumption, which means that the customer is not…

Q: The figure shown reflects the presence of Social Cost Private Cost P. Demand Quantity positive…

A: Externality refers to cost or benefit which occurs from production and falls on the third party who…

Q: ost countries today have subsidised the provision of education. Consider an imaginary country,…

A: Solving 1 to 3 combined

Q: a. If people base their education decisions only on the marginal private benefit of education, how…

A: If people base their education decisions only on the basis of private marginal benefit, then they…

Q: What is the difference between the PRIVATE COST and the SOCIAL COST of education?

A: The amount that is being paid by an individual or entity for purchasing a service or good in order…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: Note:- Dear learner you have posted a question with multiple  sub parts, as per our policy we will…

Q: d) The original assumption for Gondolin stated that the marginal private benefit is equal to the…

A: A deadweight loss is a social price incurred as a result of market unskillfulness that arises once…

Q: Explain the PRIVATE COST of education by using graph.

A: Introduction:   In this time of privatization and coming about the commercialization of training at…

Q: Depict, with the help of a figure, the initial market for tertiary education in Gondolin, assume…

A:

Q: Illustrate graph (s) that show about the Private Cost in education with explanation.

A: Private cost: It refers to the cost that is being paid by the person to get goods and services in…

Q: Explain the graph that I have provided about the PRIVATE COST and SOCIAL COST of EDUCATION

A: Cost is defined as the total expenditure incurred in the production of goods or services. Cost is…

Q: Because education generates a positive externality, ..... O A. subsidies to colleges or vouchers to…

A: A positive externality occurs when the production of goods and services indirectly benefits a third…

Q: 4. Exhibit 17-8 represents the consumer market for higher education. Exhibit 17-8 dollars per year…

A: In the free market, the optimal point will be at the point where, PMB (Private marginal benefit) =…

Q: Please explain about the Private Benefit and Private Cost of education based on the photo given

A: This is a significant differentiation to comprehend. Private costs to firms or people don't…

Q: The following table shows how the marginal benefit of a service varies for five consumers. Quantity…

A: Given  Quantity 1 2 3 Serkan 150 125 100 Asuman 125 100 75 Bahar 100 75 50 Murat 200 150…

Q: The attached figure indicates the initial market for tertiary education in a country that pays a…

A: The equilbrium price and quantity of a good sold in the market are determined by the forces of…

Q: Explain what public goods are, and why public goods are provided by the government, u

A: A public good is a common good or service for which making customers pay individually and excluding…

Q: 20 18 S- MSC 16 14 12 10 MSB D = MB 2 2 6 8 10 Quantity (millions of students per year) 2. The…

A: a)  When the marks are left unregulated MB = MSC So, 4milliion students will be enrolled per year.

Q: What are the characteristics of a public good?

A: In economics aspects, the public goods allude to the services and goods that are made accessible to…

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A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: An externality is a cost or benefit that a producer incurs or receives but is not compensated for.…

Q: (b) Identify the area of the figure you drew in (a) that depicts the total size of the subsidy paid…

A: A subsidy is a financial benefit or support provided by the government to organizations or…

Q: The diagram below represents the market for education. Assume that education provides several…

A: Positive externality is the external benefit society gets by the production or consumption of the…

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A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: (c) Subsidies lead to overproduction and overconsumption relative to thecompetitive equilibrium.…

A: Competitive equilibrium is determined at a point where the demand curve and the supply intersect…

Q: Explain about the PRIVATE COST of EDUCATION.

A: Answer in Step 2

Q: D Quantity nd curve and marginal private and social cost curves nt of Figure 9 are two circular red…

A: Externality implies to spill-over effect of a goods or service on third party which is not…

Q: 18) The above figure shows the marginal social benefit and marginal social cost curves of doughnuts…

A: 1) The above figure shows the marginal social bene- fit and marginal social cost curves of doughnuts…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

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Q: What are the two characteristics of public goods? What is the free-rider problem as it related to…

A: Characteristics of public goods are They are nonrival in nature ie the consumption of the good by…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

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Q: What is this graph and what are some issues with it? Year OL Externality graph over time. Issues are…

A: Teo dimensional graph depicting the time on the X-axis and the percentage of people below the…

Q: Marginal Social Cost:  P = 1 + 2 Q Graph the market. Be sure to fully and clearly label the graph,…

A: Since we know that there are two kinds of externalities, both positive and negative, prevailing in…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: The equilbrium price and quantity of a good sold in a competitive market are determined by the…