The figure below shows the demand and supply curves in the market for elementary education. Figure 13.1
In the figure,
D: Private demand curve for elementary education
D + s: Demand curve which includes public benefits
S: Supply curve of education
Price and Quantity have been taken on vertical and horizontal axes respectively.
In Figure 13.1, D represents the private demand for education, and D+s represents the demand including the public benefits of education.According to the figure, the optimal subsidy is equal to:
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