Education benefits both students and the community. Suppose students purchasing education consider only their own benefits when determining how much education to obtain and schools supplying education consider only their costs when determining how much education to supply. In this situation, the social benefit will be [(Click to select) the private benefit and the amount of education produced will be (Click to select) the socially efficient amount.

Education benefits both students and the community. Suppose students purchasing education consider only their own benefits when determining how much education to obtain and schools supplying education consider only their costs when determining how much education to supply. In this situation, the social benefit will be [(Click to select) the private benefit and the amount of education produced will be (Click to select) the socially efficient amount.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter17: Externalities And The Environment

Section: Chapter Questions

Problem 10PAE

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