-The Table Above Provides Information About the Marginal Private Benefit

question 39

Multiple Choice

-The table above provides information about the marginal private benefit for education. The marginal private cost, which also equals the marginal social cost, of educating a student is $16,000 per year and does not change as more students are educated. There is an external benefit from education that is equal to $12,000 per student year and does not change as more students are educated. What is the efficient amount of education?

• A) 40,000 student-years
• B) 60,000 student-years
• C) 80,000 student-years
• D) 100,000 student-years

Understand the role of personal identification with organizations in ethical decision-making.

Explore gender and educational differences in ethical decision-making.

Explore the role and impact of organizational politics on ethical decision-making.

Understand how light is detected and processed by the visual system.

---

Definitions:

Ordinal

Scales with some measure of progression such as “Freshman, Sophomore, Junior, Senior.”

Interval

Generally, the distance between points on a scale. In research terms, interval refers to a scale in which there is an assumption of equal intervals between points on the scale.

Split Half

A reliability measure where a test is divided into two parts, and the scores on both halves are compared to assess the consistency of the test results.

Inter-Item

Pertaining to the relationship or correlation between different items or variables within a dataset or survey.