The table above shows the marginal costs and marginal benefits of college education. With public provision of the efficient amount of college education, the cost paid by the taxpayers is
A) zero.
B) $8,000 per student.
C) $4,000 per student.
D) $12,000 per student.
C
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. Firms have an incentive to practice planned obsolescence, because it increases their volume of sales and gives them higher profits. 2. Artists as a whole would be better off if they received royalty payments each time their work was resold. 3. If an annual tax of $560 per acre is levied on land, then land values will fall by $560 per acre. 4. If water can be bottled at zero marginal cost, and if water prices are growing slower than the rate of interest, then owners would benefit by increasing their current bottling operations. 5. The market interest rate equals the absolute slope of the representative agent's indifference curve at the endowment point, minus 1.
Spontaneous order is an idea of:
a. Keynes b. Schumpeter c. Marx d. Lange e. None of the above
Refer to the accompanying graph. If this firm is a price taker, then when the price of each unit if output is $15, what is this firm's profit-maximizing level of output? 
A. 60 B. 45 C. 80 D. 0
The key decision maker for general Federal Reserve policy is the:
A. Federal Open Market Committee. B. Board of Governors. C. Federal Advisory Council. D. Regional Federal Reserve banks.