=+c. Now suppose the government allows an option: Either a parent can send her child to the
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=+c. Now suppose the government allows an option: Either a parent can send her child to the public school or can take a voucher to a private school and use it for partial payment of private school tuition. Assume that the voucher is worth $7,500 per year; that is, it can be used to pay for up to $7,500 in private school tuition. How does this change the budget constraint? Do you still think it is possible that some children will receive less education than they would if the government did not get involved at all (i.e., no public schools and no vouchers)?
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Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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