The figure above shows the demand for college education (D) , the marginal social benefit of college education (MSB) , and the marginal cost of the private schools (MC) .
-In the figure above,suppose the government provides vouchers worth $15,000 per student per year.When the market is in equilibrium,marginal social benefit ________ marginal cost,and the number of students enrolled is ________.
Definitions:
True Null Hypothesis
The hypothesis that there is no effect or no difference, and it is the actual truth in the context of hypothesis testing.
Rejects
In statistical analysis, to reject refers to the decision of dismissing the null hypothesis based on the evidence provided by the data.
Type I Error Probability
The probability of incorrectly rejecting the null hypothesis when it is true, often denoted by alpha.
Reject
In statistical analysis, it refers to the decision to not accept the null hypothesis based on the results of the test.
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