A Family's Preferences Toward Schooling,before and After a Fixed-Quantity Subsidy,are

question 21

Multiple Choice

A family's preferences toward schooling,before and after a fixed-quantity subsidy,are shown in Figure 5-5.Prior to the subsidy,the family is in equilibrium at point J.Assume that public schooling cannot be supplemented with private tutoring.
-Refer to Figure 5-5.Suppose the government offers education vouchers of value $B0 instead of a fixed-quantity subsidy.The budget line will become _____.

• A)MATN
• B)AS
• C)MN
• D)MAS

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