The above figure shows the marginal benefits and marginal costs of a college education. What is the amount of the external benefit in the figure?
A) $0
B) $5,000
C) $10,000
D) $15,000
B
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What is the difference between a price ceiling and a price floor? Compared to the competitive equilibrium price, where must price ceilings and price floors be set to have an effect on the market
What will be an ideal response?
A dominant strategy
A. results in the best outcome for a player if other players also play the same strategy. B. is the best strategy for a player, regardless of the strategy chosen by other players. C. is present in every game. D. is identical to a Nash equilibrium.
A standard way to measure income mobility is to compare:
A. people's income at the beginning of their work-life to their income when they retire. B. the education level of people to that of their parents'. C. people's income to their parents' income. D. None of these is a standard way to measure income mobility.
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.