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Assume Each College Degree That Is Granted Conveys an External

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Assume each college degree that is granted conveys an external benefit of $3,500. The granting of the 500th college degree entails a private cost of $15,000 and a private value of $25,000. What is the social value of the 500th college degree?


Definitions:

Media Choice

The selection of a means of communication or the medium through which a message or content is delivered.

Communication

The process of sharing information, ideas, or feelings between individuals or groups, typically for mutual understanding or cooperation.

Censorship

The suppression or prohibition of any parts of books, films, news, etc., that are considered obscene, politically unacceptable, or a threat to security.

Non-verbal Cues

Forms of communication without words, such as body language, gestures, facial expressions, and tone of voice, which can convey emotions and intentions.

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