-The Figure Above Shows the Marginal Social Costs (MSC), Marginal

question 16

Multiple Choice

-The figure above shows the marginal social costs (MSC) , marginal private benefits (MB) , and marginal social benefits (MSB) of university education in Inland. Suppose Inland's government is considering subsidising private universities to ensure the efficient level of enrolment. What should be the amount of the subsidy (if any) ?

• A) $1,000 per student per year.
• B) $4,000 per student per year.
• C) The government should not subsidise private universities.
• D) $2,000 per student per year.

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Definitions:

Union Grievance Procedure

A formal mechanism through which labor unions can address and resolve complaints regarding employee rights and working conditions.

Just Cause Discipline

A principle that requires employers to have a fair and valid reason for any disciplinary action, including termination, against employees.

Rights Disputes

Situations where there is a conflict or disagreement over legal entitlements or guaranteed protections, often within the context of employment or civil rights.

Outsourcing

The practice of having certain job functions performed outside of a company, typically by another company or individuals, to save costs or access specialized skills not available internally.