-The Table Above Provides Information About the Marginal Private Benefit

question 314

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. If the government undertakes public provision of the efficient amount of education, how much will the government charge for tuition?

• A) $4,000
• B) $8,000
• C) $12,000
• D) $16,000

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Definitions:

Popular Culture

Cultural activities, products, or phenomena that are widespread and commonly accepted or valued by the general public, often contrasted with high culture or elite culture.

Civil Rights Protests

Public demonstrations in the 1950s and 1960s, primarily in the United States, aimed at ending racial segregation and discrimination against African Americans and securing legal recognition and federal protection of the citizenship rights enumerated in the Constitution and federal law.

Rosa Parks

Rosa Parks was an African American civil rights activist whose refusal to give up her seat on a segregated bus in Montgomery, Alabama, in 1955 sparked the Montgomery Bus Boycott, a pivotal event in the Civil Rights Movement.