-The Table Above Shows the Marginal Costs and Marginal Benefits

question 44

Multiple Choice

-The table above shows the marginal costs and marginal benefits of college education. With public provision of the efficient amount of college education, the cost paid by the taxpayers is

• A) zero.
• B) $8,000 per student.
• C) $4,000 per student.
• D) $12,000 per student.

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Definitions:

Feedforward

A control mechanism designed to anticipate and prevent potential problems before they occur, rather than reacting to them afterward.

Corrective Action

Measures taken to identify and rectify problems, errors, or deviations in order to prevent their recurrence and ensure that objectives are achieved.

Control Systems

Mechanisms or regulations designed to manage or govern the behavior of systems or processes, ensuring they operate within desired parameters.

Performance Appraisals

The process used by organizations to assess employees' job performance over a specific period, aiming to understand their achievements and areas for improvement.