If all colleges are private and the market for education is competitive, how many students enroll, what
Question:
The marginal cost of educating a student is a constant $4,000 a year and Figure 16.5 shows the students€™ marginal benefit curve. Suppose that college education creates an external benefit of a constant $2,000 per student per year.
Transcribed Image Text:
3 10 4 D- MB 0 20 30 450 60 Students (thousands per year)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
In a competitive market schools maximize profit They produce the quantity at which the marginal bene...View the full answer
Answered By
Shivani Dubey
Hello guys, I am very good with the Advance mathematics, Calculus, Number theory, Algebra, Linear algebra, statistics and almost all topics of mathematics. I used to give individual tutoring students in offline mode but now want to help students worldwide so I am joining here. I can also give solutions in various coding languages of mathematics and software like mathematica, R, Latex, Matlab, Statistica, etc.
feel free to ask any doubt regarding mathematics
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
What is the efficient number of students? If all colleges are private, how many people enroll in college and what is the tuition? The marginal cost of a college education is a constant $6,000 per...
-
If all health insurance is private and the market for insurance is competitive, how many families are covered, what is the premium, and what is the deadweight loss created? The marginal cost of...
-
Education is often described as a good with positive externalities. Explain how education might generate positive external benefits. Also suggest a possible action the government might take to induce...
-
Download a copy of the ACFE Compensation Guide for Anti-fraud Professionals, which is available at no charge at: www.acfe.com/documents/2008-comp-guide.pdf. Based on this resource, answer the...
-
A handoff is a term used in wireless communications to describe the process of a cell phone moving from a coverage area of one base station to another. Each base station has multiple channels (called...
-
a. What is the audit risk model and when is it used? b. What is a risk components matrix and when is it used?
-
Which of the following is not a benefit derived from the conceptual framework? a. Supports the objective of providing information useful for making business and economic decisions b. Provides a...
-
Sandy is asked to produce 250 squidgets an hour. It takes 30 minutes to receive the necessary material from the previous workstation. Each output container holds 25 squidgets. The factory currently...
-
C A A In the figure above the side labelled A has length 2, the side labelled C has length v 104. Using the figure, evaluate each trigonometric function of the angle 0. sin (0) cos (0) tan(0) sec (0)...
-
Morgan Amberson decided to open Morgan's Nail Spa. Morgan completed the following transactions: a. Invested $16,000 cash from her personal bank account into the business. b. Bought store equipment...
-
What in this news clip points to a distinction between public production of a public good and public provision? Give examples of three public goods that are produced by private firms but provided by...
-
If the government decides to provide public colleges, what tuition will these colleges charge to achieve the efficient number of students? How much will taxpayers have to pay? The marginal cost of...
-
Prepare Balance Sheet United Technologies Corporation provides a broad range of high-technology products and sup- port services to the building systems and aerospace industries. Those products...
-
Magpie Corporation uses the total cost method of product pricing. Below is cost information for the production and sale of 64,500 units of its sole product. Magpie desires a profit equal to a 25%...
-
The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares...
-
Rowan Company is considering two alternative investment projects. Each requires a $269,000 initial investment. Project A is expected to generate net cash flows of $79,000 per year over the next six...
-
Outdoor Luggage, Incorporated, makes high-end hard-sided luggage for sports equipment. Data concerning three of the company's most popular models appear below. Ski Guard Golf Guard Fishing Gua...
-
The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th...
-
How would you have structured the owners board of directors on the Big Dig to ensure the best possible expertise? As noted by a former Big Dig Board Member: perhaps an owners board should have been...
-
Provide a draft/outline of legal research involving an indigenous Canadian woman charged with assault causing bodily harm under (Sec 267b) of the Criminal Code, where the crown wants a 12-month jail...
-
Decision tree exercises. Draw and label decision trees that describe the following decision situations. State feasible goals and objectives for each decision. List relevant measurable quantitative...
-
After you have studied Reading Between the Lines on pp. 316317, answer the following questions. a. Why does Consumer Watchdog say that Google needs to be investigated? Do you agree? Explain why or...
-
The Federal Communications Commission (F.C.C.) is setting new regulations to open the cable television market to independent programmers and rival video services. The new rules will make it easier...
-
Intel, the worlds largest chipmaker, holds 80 percent of the microprocessor market Advanced Micro Devices complains that Intel stifles competition, but Intel says that the 42.4 percent fall in prices...
-
Determine the current ratio ( round to one decimal place ) Current ratio = Current assets / Current Liabilities 7 . 1 9 4 . 3 5 6 . 9 2 1 3 . 7 3
-
premises was demolished at a cost of $ 3 , 3 6 0 , with $ 9 6 0 being received from the sale of materials. in December with payments made to the contractor in 2 0 2 3 as follows. The building was...
-
- 1 ( Financial statements of Leons Furniture Limited / Meubles L on Lt e ) Base your answers to the following questions on the financial statements for Leons Furniture Limited / Meubles L on Lt e in...
Study smarter with the SolutionInn App