Without Market Provision of Education,there Is No Mechanism for Quality

question 99

True/False

Without market provision of education,there is no mechanism for quality control.

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Definitions:

Marginal Cost

The added financial burden from producing one more unit of a product or service.

Marginal Revenue

The surplus revenue earned from the sale of an extra unit of a product or service.

Profit

The earnings obtained when income from a business endeavor outstrips the total expenses, costs, and taxes necessary to maintain that endeavor.

Marginal Revenue

The additional income that is gained from selling one more unit of a product or service.