FIGURE 6-3 -Refer to Figure 6-3. Suppose That Education Provides Spillover Benefits

FIGURE 6-3

-Refer to Figure 6-3. Suppose that education provides spillover benefits to the community as illustrated in the above diagram. Based on this information, which of the following statements is the most accurate?

A) The socially optimal quantity of education is Q₁ units.
B) The market would fall short of the desirable level of education, Q₀.
C) The socially optimal quantity of education is Q₀ units.
D) Education is overproduced by Q₁ minus Q₀ units.