Education is considered a consumer good with positive externality, in which other non-consuming parties in the society

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Education is considered a consumer good with positive externality, in which other non-consuming parties in the society also tend to benefit from it. Why does the invisible hand fail to generate socially efficient outcome in the education market?

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Economics

ISBN: 287201

6th Global Edition

Authors: Daron Acemoglu, David Laibson, John A. List

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