The market will produce ________ level of education when we ________ its external benefits.
A) an efficient; do not consider
B) more than an efficient; do not consider
C) less than an efficient; do not consider
D) more than an efficient; do consider

Question

Quizplus · Accepted Answer

When the external benefits of education (such as a more informed citizenry, lower crime rates, etc.) are not considered, the market will produce less than the efficient level of education because it does not account for these positive externalities in its production decisions.

The Market Will Produce ________ Level of Education When We