Using the graph above, the closing gap between MB _private and and MB _social as years of education increases implies that

a. The negative externality associated with education must grow as more years of education are attained. 

b. The negative externality associated with education must shrink as more years of education are attained.

c. The positive externality associated with education must grow as more years of education are attained. 

d. The positive externality associated with education must shrink as more years of education are attained. 

e. There must be an error in the graph.

Transcribed Image Text:

69 8 MBprivate -MB social 10 12 14 16 Quantity (years of education) MC 18 20