Higher education creates
a. side payments
b. negative externalities
c. a wedge between marginal social cost and marginal private cost
d. positive externalities
e. economic efficiency
D
You might also like to view...
Assume the firms in a monopolistically competitive industry initially are earning positive economic profits. Which of the following will not occur over time?
A) The firms' economic profits will be reduced. B) New firms will enter. C) Demand for the existing firms' output will become more inelastic. D) The number of substitutes available in the industry will increase.
Which of the following is a normative economic statement?
A) An increase in corporate income taxes will cause the unemployment rate to increase. B) The costs of medical care are increasing faster than the incomes of U.S. citizens. C) Teenage unemployment is over ten percent. D) Teenage unemployment is too high.