Because There Are Positive Externalities from Higher Education

question 87

Multiple Choice

Because there are positive externalities from higher education,

• A)private markets will under-supply college classes.
• B)private markets will over-supply college classes.
• C)the government should impose a tax on college students.
• D)government intervention cannot improve the market for college classes.

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Definitions:

Sample Proportion

The fraction or percentage of a sample that represents a particular outcome or characteristic.

Control Chart

A graphical tool used in process control to track if a process is functioning within predetermined limits over time.

Proportion of Defectives

The fraction or percentage of units in a batch or production lot that are considered to be non-conforming or defective, typically used in quality control and manufacturing processes.

Upper and Lower Control Limits

The thresholds in control charts within which a process is considered to be in control and stable, with the Upper Control Limit being the maximum acceptable limit and the Lower Control Limit the minimum.