The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, at the equilibrium quantity, the marginal social benefit is
A) zero.
B) $14,000.
C) $19,000.
D) $16,000.
C
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Prices for fresh fruit, vegetables and other food products are examples of
A) custom prices. B) sticky prices. C) temporary prices. D) auction prices.
If investment decreases by $20 billion and the MPC = 0.8, the resulting decrease in the consumption component of AD is: a. $16 billion
b. $4 billion. c. $100 billion. d. $80 billion.
The ______ believed that our economy was self-regulating and argued against government interference with its operations.
A. classical economists B. supply-side economists C. Keynesians D. economic behaviorists
Karl Marx said all of the following, except that
A. in the long run, capitalism would collapse. B. capitalists and workers generally had the same economic interests. C. one's social consciousness was determined by one's relationship to the means of production. D. whomever controlled a society's capital controlled that society.