The figure shows the supply curve (S) and the demand curve (D) for college education. The external benefit from college education is $6,000 per student per year and is constant.
-In the figure above, if the government gives a voucher equal to $3,000 per year to each college student, how many students will be accepted?
Definitions:
Start Pushbutton
A control device used to initiate the operation of machinery or equipment.
Three-Wire
Describes an electrical system or circuit that uses three conductors for operation, typically including a live wire, neutral wire, and a ground wire.
Motor Starter
An electrical device that controls the use of electrical power to equipment, specifically to start and stop motors.
No-voltage Drop-out
A safety feature in electrical devices that causes them to turn off or disengage when the supply voltage drops below a certain level.
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