The private market for education can be considered a market failure because it leads to a price of education that society believes is too ____ and a quantity of education that is too ____.

Question

Quizplus · Accepted Answer

The private market for education can be considered a market failure because it leads to a price of education that society believes is too high (as private schools charge more than what many families can afford) and a quantity of education that is too low as private schools cater to a smaller segment of the population and may not offer the same level of accessibility as public schools.

The Private Market for Education Can Be Considered a Market