Draw a photograph and answer questions on the bottom 1 With no public colleges and no government involvement in college education, how many students will enroll (Qp) [ Select]~ students. What is the tuition?2. If the government subsidizes private colleges and sets the subsidy so that the socially efficient number of students will enroll in college, what is the subsidy per student? How many students will enroll (Qs*)v students.

The marginal cost of educating a college student is $5,000 per year. The table below shows the private marginal benefit from a college education. The marginal external benefit benefit of a college education is $2,000 per student per year. Complete the table and then plot the graph on a sheet of graph paper. Your sketch must be on a sheet of graph paper, no lined paper or self drawn grid. Data on education Private Private Social Marginal Students Marginal Marginal External Benefit ($ per (millions per Cost ($ per Benefit ($ Marginal student per year) year) student per | per student Benefit year) per year) SMB=PMB+EB 5000 2 3000 3 2000 4 1500 Upload your sketch. Upload Choose a File Question 2 2 pts With no public colleges and no government involvement in college education, how many students will enroll (Qp) [ Select ] students. What is the tuition