Explain the graph that I have provided about the PRIVATE COST and SOCIAL COST of EDUCATION

Q: a)Some advocates of anti-poverty programs claim that fighting poverty is a public good. Explain what…

A: a, The public goods are those goods which have the two basic features of non-excludability and…

Q: In what sense does the demand curve for a pure public good differ from that of a pure private good ?

A: Demand curve: The demand curve is a graphical portrayal of the connection between a decent or…

Q: Refer to the shaded area on the graph to the right. The social cost of common access is the area of…

A: “Private cost is the actual cost incurred during an economic activity, such as production.”…

Q: Why might redistribution across communities make sense for the provision of education? a-there are…

A: The correct option is c ‘there is externality associated with education’.

Q: Which statement about the difference between private costs and social costs is TRUE:…

A: Private cost is the cost incurred on the production process.

Q: For each government action, indicate the type of government activity and justification.…

A: a) New York city bans smoking in restaurants – EXTERNALITY.  Smoking in public places creates…

Q: What is the difference between the PRIVATE COST and the SOCIAL COST of education?

A: The amount that is being paid by an individual or entity for purchasing a service or good in order…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: Note:- Dear learner you have posted a question with multiple  sub parts, as per our policy we will…

Q: d) The original assumption for Gondolin stated that the marginal private benefit is equal to the…

A: A deadweight loss is a social price incurred as a result of market unskillfulness that arises once…

Q: Explain the PRIVATE COST of education by using graph.

A: Introduction:   In this time of privatization and coming about the commercialization of training at…

Q: Supply curves for the production of oil in Sanaton are shown in the diagram below. Supply based on…

A: Externalities are the economic an activities which have the spillover effects on societies'…

Q: A college education creates positive externalities. Use the accompanying graph which represents the…

A: As Education creates positive externality, the Demand curve will shift to the right, giving rise to…

Q: Explain the measures used by the government to correct each of the following sources…

A: In a free economy, the  equilibrium price and quantity is determined by the forces of demand and…

Q: What do you understand about this private cost and benefit of education?

A: The profitability of education as an investment for society, or for the individual student or his or…

Q: The supply curve for the production of oil in Sanaton is shown in the diagram below. Supply based on…

A: externalities is the spillover effects caused by an economic activities which have negative as well…

Q: Illustrate graph (s) that show about the Private Cost in education with explanation.

A: Private cost: It refers to the cost that is being paid by the person to get goods and services in…

Q: Explain the PRIVATE COST and SOCIAL COST of education by using g

A:

Q: Please explain about the Private Benefit and Private Cost of education based on the photo given

A: This is a significant differentiation to comprehend. Private costs to firms or people don't…

Q: The difference between private cost and social cost is that A) social cost only considers the…

A: Private Cost is the cost of producing a good or service.  Social Cost is the sum of private and…

Q: . Exhibit 17-8 represents the consumer market for higher education. Exhibit 17-8 dollars per year…

A: We have the following information-

Q: Figure 10-12 Price Supply External benefit Line 1 Quantity Refer to Figure 10-12. Which of the…

A: Externality leads to either overproduction or underproduction . And it is spillover effect of an…

Q: The attached figure indicates the initial market for tertiary education in a country that pays a…

A: The equilbrium price and quantity of a good sold in the market are determined by the forces of…

Q: How do free markets allocate public goods?  How do they allocate private goods?   Is water a…

A: Answer- Need to find- How do free markets allocate public goods How do they allocate private goods?…

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A: The cleaning of yard leaves is important because leaves can cause accidents when they are wet on…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: An externality is a cost or benefit that a producer incurs or receives but is not compensated for.…

Q: (b) Identify the area of the figure you drew in (a) that depicts the total size of the subsidy paid…

A: A subsidy is a financial benefit or support provided by the government to organizations or…

Q: (c) Subsidies lead to overproduction and overconsumption relative to thecompetitive equilibrium.…

A: Competitive equilibrium is determined at a point where the demand curve and the supply intersect…

Q: Explain about the PRIVATE COST of EDUCATION.

A: Answer in Step 2

Q: D Quantity nd curve and marginal private and social cost curves nt of Figure 9 are two circular red…

A: Externality implies to spill-over effect of a goods or service on third party which is not…

Q: 18) The above figure shows the marginal social benefit and marginal social cost curves of doughnuts…

A: 1) The above figure shows the marginal social bene- fit and marginal social cost curves of doughnuts…

Q: The marginal private cost is equal to the marginal social cost. Now describe, using the help of the…

A: *Answer:

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: The forces of demand and supply determine the equilibrium price and quantity of an item sold in a…

Q: The table below shows cost data for producing different amounts of higher education. The market for…

A: With the positive consumption externality, we have SMB > PMB.

Q: If education has private benefits to an individualas well as external benefits to society, explain…

A: An externality is said to be created when an individual takes part in an activity that also…

Q: A residential community has 100 residents who are concerned about security. The accompanying table…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: The equilbrium price and quantity of a good sold in a competitive market are determined by the…

Q: Explain why economists might say that the market for higher education demonstrates externalities and…

A: Externality: It is a situation when the action of an individual affects another individual or…

Q: Marginal Social Cost:  P = 1 + 2 Q Graph the market. Be sure to fully and clearly label the graph,…

A: Since we know that there are two kinds of externalities, both positive and negative, prevailing in…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: The equilbrium price and quantity of a good sold in a competitive market are determined by the…