Scenario 10-1 The Demand Curve for Gasoline Slopes Downward and the Supply

Scenario 10-1
The demand curve for gasoline slopes downward and the supply curve for gasoline slopes upward. The production of the 400th gallon of gasoline entails the following:
a private cost of $2.83;
a social cost of $3.12;
a value to consumers of $3.23.
-Education yields positive externalities. For example,

A) colleges and universities have benefited, in recent years, from increases in tuition paid by students.
B) as a result of earning a college degree, a person becomes a more productive worker and benefits by earning higher wages.
C) a more educated population tends to result in lower crime rates.
D) when students go to school, they reinforce the demand for teachers.

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