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If the government did not provide and subsidize education:

seeb1999

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If the government did not provide and subsidize education:

If the government did not provide and subsidize education:

▸ parents would acquire less education for their children than is efficient because some of the benefits of education are private and some are social.

▸ no children would receive an education because the benefits of education are public goods.

▸ parents would acquire the efficient quantity of education for their children, because all of the benefits of education are private.

▸ the education market would reach efficiency.

Textbook

Microeconomics: Principles, Applications, and Tools

Edition: 8^th

Authors: O'Sullivan, Sheffrin, Perez

Read 71 times

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peaceout3000

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