For each of the three scenarios outlined below, draw separate graphs showing 1) students' demand for post-secondary education and 2) the supply of post-secondary education from universities and colleges. Assume that the quantity of education can be expressed in terms of years of education (and people can consume increments of years) and the price can be expressed in terms of tuition fees (to be specific, the pre- reimbursement or before-subsidy tuition fee, depending on the scenario). Use the standard convention when plotting demand and supply curves with price () on the y- axis and quantity () on the x-axis. The three scenarios are: i No government intervention (i.e., all students pay full tuition). ii The existing system whereby students can apply to have their tuition fees reimbursed. In this case, the statutory incidence of the policy falls on students. iii The government subsidizes tuition with the statutory incidence of the subsidy falling on universities.

Suppose that there are positive externalities associated with education. In this case, the private marginal benefit and social marginal benefit of education diverge. In your three figures, illustrate the deadweight loss associated with the externality. Be sure to discuss the marginal deadweight loss associated with the policies, e.g., whether the subsidies increase or decrease deadweight loss

ps: please with figure to explain