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P SB E H F III G 50 80 120 150 Consider the market for education. Education has an external benefit. The graph above shows the supply and demand curves as well as the social benefit curve in the market. Refer to the graph to answer the following questions: S

P SB E H F III G 50 80 120 150 Consider the market for education. Education has an external benefit. The graph above shows the supply and demand curves as well as the social benefit curve in the market. Refer to the graph to answer the following questions: S

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter12: Environmental Protection And Negative Externalities
Section: Chapter Questions
Problem 40P: Show the market for cigarettes in equilibrium, assuming that there are no laws banning smoking in...
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Question 6 U SB G S E I 50 80 120 150 Consider the market for education. Education has an external benefit. The graph above shows the supply and demand curves as well as the social benefit curve in the market. Refer to the graph to answer the following questions: • If the government does not interfere in the functioning of this market, the quantity traded in the market is • The socially optimal quantity is • The outcome that takes into account the external benefit of education is • In the presence of a positive externality and without government interfer produces ket Point E Point F ◆ compared to the socially optimal quar Point G Point H Check H --
Transcribed Image Text:Question 6 U SB G S E I 50 80 120 150 Consider the market for education. Education has an external benefit. The graph above shows the supply and demand curves as well as the social benefit curve in the market. Refer to the graph to answer the following questions: • If the government does not interfere in the functioning of this market, the quantity traded in the market is • The socially optimal quantity is • The outcome that takes into account the external benefit of education is • In the presence of a positive externality and without government interfer produces ket Point E Point F ◆ compared to the socially optimal quar Point G Point H Check H --
Question 6 SB S G B F E I I 50 80 120 150 Consider the market for education. Education has an external benefit. The graph above shows the supply and demand curves as well as the social benefit curve in the market. Refer to the graph to answer the following questions: • If the government does not interfere in the functioning of this market, the quantity traded in the market is • The socially optimal quantity is • The outcome that takes into account the external benefit of education is • In the presence of a positive externality and without government interference, the market produces ✔ compared to the socially optimal quantity. too much Check too little the right amount I
Transcribed Image Text:Question 6 SB S G B F E I I 50 80 120 150 Consider the market for education. Education has an external benefit. The graph above shows the supply and demand curves as well as the social benefit curve in the market. Refer to the graph to answer the following questions: • If the government does not interfere in the functioning of this market, the quantity traded in the market is • The socially optimal quantity is • The outcome that takes into account the external benefit of education is • In the presence of a positive externality and without government interference, the market produces ✔ compared to the socially optimal quantity. too much Check too little the right amount I
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