Multiple Choice
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) .
-Using the figure above,suppose a subsidy of $15,000 per student is provided to private colleges.Then,the market equilibrium occurs at a tuition of ________ a year and ________ million students.
A) $10,000; 15
B) $25,000; 15
C) $15,000; 15
D) $15,000; 7.5
E) $20,000; 20
Correct Answer:
Verified
Correct Answer:
Verified
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