Figure 10-12
-Refer to Figure 10-12. Suppose, on the figure, Q represents the quantity of education and P represents the price of education. Then the quantity represents
A)an inefficiency.
B)the extent of the negative externality that pertains to the market for education.
C)the amount of the tax that would be required to correct the negative externality that pertains to the market for education.
D)the amount of the subsidy that would be required to correct the positive externality that pertains to the market for education.

Question

Figure 10-12 
-Refer to Figure 10-12. Suppose, on the figure, Q represents the quantity of education and P represents the price of education. Then the quantity  represents
A)an inefficiency. 
B)the extent of the negative externality that pertains to the market for education. 
C)the amount of the tax that would be required to correct the negative externality that pertains to the market for education. 
D)the amount of the subsidy that would be required to correct the positive externality that pertains to the market for education.

Quizplus · Accepted Answer

The Answer of Figure 10-12 
-Refer to Figure 10-12. Suppose, on the figure, Q represents the quantity of education and P represents the price of education. Then the quantity  represents
A)an inefficiency. 
B)the extent of the negative externality that pertains to the market for education. 
C)the amount of the tax that would be required to correct the negative externality that pertains to the market for education. 
D)the amount of the subsidy that would be required to correct the positive externality that pertains to the market for education.

Figure 10-12 -Refer to Figure 10-12. Suppose, on the Figure, Q Represents