Price and cost (thousands of dollars per student) 20 S = MC 16 12 MSB 8 MB 4 200 400 600 800 1,000 Quantity (students per year) The figure above shows the market for private elementary school education in Chicago. There is no external cost of private elementary education. If the government does not intervene in this market, the equilibrium number of students being privately educated is and the efficient quantity is A) 400 students; 400 students O B) 600 students; 400 students C) 600 students; 600 students D) O students; 400 students E) 400 students; 600 students

Price and cost (thousands of dollars per student) 20 S = MC 16 12 MSB 8 MB 4 200 400 600 800 1,000 Quantity (students per year) The figure above shows the market for private elementary school education in Chicago. There is no external cost of private elementary education. If the government does not intervene in this market, the equilibrium number of students being privately educated is and the efficient quantity is A) 400 students; 400 students O B) 600 students; 400 students C) 600 students; 600 students D) O students; 400 students E) 400 students; 600 students

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter19: Using Economics To Understand The World Around You

Section: Chapter Questions

Problem 9E: The United States government subsidizes many so-called green companies. For instance, it has given...

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