Most economists believe that there are positive externalities associated with education. If they're right, the market for education fails to provide an efficient or socially optimal allocation of resources because the equilibrium
a. price and quantity would be too high
b. price would be too low and quantity would be too high
c. price and quantity would be too low
d. price would be too high and quantity would be too low
e. price and quantity would be just right
D
Economics
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From 1980 to 2000 the employment-to-population ratio generally ________ and from 2000 to 2014 the ratio generally ________
A) increased; decreased B) decreased; decreased C) increased; increased D) decreased; increased
Economics
In a static game, firms
A) compete multiple times until there is a winner. B) compete only once. C) must have complete information. D) act sequentially.
Economics