-In the Above Figure, What Amount of Subsidy Per Student

question 97

Multiple Choice

-In the above figure, what amount of subsidy per student would government have to provide to universities if its desired objective was to achieve an efficient level of education, 50 million students per year?

• A) $18,000 per year
• B) $27,000 per year
• C) $12,000 per year
• D) $6,000 per year

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Definitions:

Diffusion of Innovation Theory

A theory that explains how, over time, an idea or product gains momentum and spreads through a specific population or social system.

Market Acceptance

The extent to which a new product or service is accepted and used by its target market and consumers.

Laggard

An individual or entity that is slow to adopt new technologies, ideas, or practices, often trailing behind the majority in terms of innovation adoption.

Rotary-dial Telephone

An early type of telephone using a rotating dial to input numbers, prevalent before the introduction of touch-tone dialing.