When individuals make decisions about how much schooling to obtain,they
A)do not consider the personal benefits that education creates.
B)overvalue the personal benefits that education creates.
C)overvalue the external benefits that education creates.
D)do not consider the external benefits that education creates.
E)set marginal social benefit equal to tuition.

Question

Quizplus · Accepted Answer

Individuals typically consider personal benefits (such as higher income or personal development) when deciding on their level of education, but they may not fully account for the external benefits their education provides to society, such as increased innovation or a more informed electorate.

When Individuals Make Decisions About How Much Schooling to Obtain,they