The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, at the equilibrium quantity, the marginal private benefit is

Which of the following is not a typical solution to the "Tragedy of the Commons?"

a. taxing the use of the common resource b. turning the common resource into a club good c. turning the common resource into a private good d. regulating the use of the common resource

In a situation where a market failure occurs,

A. any government intervention will improve on the market outcome. B. there is nothing that the government can do to improve on the market outcome. C. government intervention might improve on the market outcome. D. it will always be preferable to have the government intervene in the market.