-The Figure Above Shows the Market for Private Elementary School

question 152

Multiple Choice

-The figure above shows the market for private elementary school education in Chicago.There is no external cost of private elementary education.If the marginal social benefit of private elementary education equaled the marginal social cost,the deadweight loss in Chicago's private education market would equal

• A) 0.
• B) $800,000.
• C) $1,600,000.
• D) more than $1,600,000.
• E) more than $800,000 and less than $1,600,000.

---

Definitions:

Mail Order Retailers

Businesses that sell products to customers through catalogues, websites, or other forms of distance communication, with goods being delivered by mail.

Total Sales

The sum of all sales revenue within a given period.

Sales

The total revenue generated from the sale of goods or services by a company within a specific period.

Annual Revenue

The total income generated by a business over a one-year period from its normal business operations.