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16 points tota (16 points) The total benefits (in millions of dollars) and total costs (in millions of dollars) of education (in millions of students
16 points tota (16 points) The total benefits (in millions of dollars) and total costs (in millions of dollars) of education (in millions of students per year) are detailed in the table below. a. (10 pts.) Complete the shaded cells of the table (each blank cell is worth 1 point). Education MSB 313:?\" MSC Total Costs Net Benets 0 $0 $0 $0 1 $10 $1 1 9 2 18 3 14 3 6 24 10 4 4 22 S 3 1 42 11 6 O 3 1 27 59 38 b. (4 pts.) What is the optimal level of education (in millions of students per year)? Please explain why. c. (2 pts.) Which of the following statements is true I. ii. iii. iv. The MSB increase as education increases, and MSC decrease as education increases. The MSB decrease as education increases, and the MSC increase as education increases. Both the MSB and MSC decrease as education increases. All statements are correct
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