The Positive Externality Associated with Education Is

question 71

Multiple Choice

The positive externality associated with education is:

• A) producers can get higher prices for their goods and services.
• B) less crowding in the classrooms.
• C) increases in societal well-being and economic growth.
• D) technological progress slows as basic research increases.
• E) the market excludes noncontributors to education from benefits.

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Definitions:

Market Growth

The increase in the demand or sales of a particular product or service within a specific industry or market over time.

Stealing Share

A business strategy aimed at gaining market share from competitors through tactics like competitive pricing, improved quality, or marketing.

Marginal Subcontracting Cost

The additional cost incurred for subcontracting one more unit of production or service.

Layoff Cost

refers to the expenses associated with terminating employees, including severance payments, benefits continuation, and administrative costs.