The marginal private benefit of education is

Question

Quizplus · Accepted Answer

The marginal private benefit of education includes only the benefits that accrue to the individual who is receiving the education, such as higher future income and better employment opportunities. However, education also has external benefits, such as a more productive workforce, less crime, and a more informed electorate. These external benefits are not captured in the marginal private benefit and are accounted for in the marginal social benefit. Therefore, the marginal private benefit of education is less than the marginal social benefit.

The Marginal Private Benefit of Education Is