Suppose Each Person in a Community Had to Pay for His

question 195

Multiple Choice

Suppose each person in a community had to pay for his or her own education from kindergarten through high school. One would expect that:

• A) less education would be acquired, since society has not considered the positive external benefits of education.
• B) more education would be acquired, since society has not considered the positive external benefits of education.
• C) the optimal amount of education would be acquired by community members, since they each paid for the amount of education they wanted.
• D) a Pigouvian tax would ensure the optimal amount of education.

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Definitions:

Implied Warranty of Habitability

This is a legal doctrine that implies residential rental properties meet basic living and safety standards.

Doctrine of Constructive Eviction

A legal concept where a tenant is essentially forced to leave their rental property because the landlord has failed to keep the premises livable.

Vacate the Premises

To leave a property, making it available for others to occupy or use.

Make Repairs

The process of fixing or restoring something to its original state or to working condition.