If all colleges are public colleges, calculate the tuition that will achieve the efficient number of students.

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If all colleges are public colleges, calculate the tuition that will achieve the efficient number of students. How much will taxpayers have to pay?

The marginal cost of educating a student is a constant $4,000 a year and education creates an external benefit of a constant $2,000 per student per year.

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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Question Posted: Jan 27, 2024 10:03 PM

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If all colleges are public colleges, calculate the tuition that will achieve the efficient number of students.

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The tuition cost that achieves the efficient number of students can be calculated as follows The economic concept at play here is social efficiency wh...View the full answer

Economics

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