Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 10, Problem 6SPPA
To determine
To compute:
The number of students enrolled under private optimum. The tuition and the
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The table gives information about the benefits of a trade school education.
Marginal
private
benefit
Marginal
social
benefit
Quantity
(students
(dollars per student per
year)
per year)
100
10,000
13,000
200
9,000
12,000
300
8,000
11,000
400
7,000
10,000
500
6,000
9,000
If tuition is $10,000 per student per year, what is the value of the voucher that
will encourage the efficient number of students to enroll?
The government needs to provide vouchers of $ Type per student per year.
Explain the graph that I have provided about the PRIVATE COST and SOCIAL COST of EDUCATION.
Figure 10-12
Price
External
benefit
Supply
Line 2
Line 1
21 2₂
Quantity
Refer to Figure 10-12. Which of the following is an appropriate label for Line 2?
a. private cost
b. private value
c. social value
d. social cost
Chapter 10 Solutions
Foundations of Economics (8th Edition)
Ch. 10 - Prob. 1SPPACh. 10 - Prob. 2SPPACh. 10 - Prob. 3SPPACh. 10 - Prob. 4SPPACh. 10 - Prob. 5SPPACh. 10 - Prob. 6SPPACh. 10 - Prob. 7SPPACh. 10 - Prob. 8SPPACh. 10 - Prob. 9SPPACh. 10 - Prob. 10SPPA
Ch. 10 - Prob. 1IAPACh. 10 - Prob. 2IAPACh. 10 - Prob. 3IAPACh. 10 - Use the following information to work Problems 3...Ch. 10 - Prob. 5IAPACh. 10 - Prob. 6IAPACh. 10 - Prob. 7IAPACh. 10 - Prob. 8IAPACh. 10 - Prob. 9IAPACh. 10 - Prob. 1MCQCh. 10 - Prob. 2MCQCh. 10 - Prob. 3MCQCh. 10 - Prob. 4MCQCh. 10 - Prob. 5MCQCh. 10 - Prob. 6MCQ
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