Exhibit 17-8 Exhibit 17-8 represents the consumer market for higher education.If people base their education decisions only on the marginal private benefit of education, how many years of education will they get?

Question

Exhibit 17-8  Exhibit 17-8 represents the consumer market for higher education.If people base their education decisions only on the marginal private benefit of education, how many years of education will they get?

Quizplus · Accepted Answer

At the point where the marginal private benefit intersects with the marginal social cost, consumers will receive a total of 4 years of education.

Exhibit 17-8 Exhibit 17-8 Represents the Consumer Market for Higher