-The figure above shows the market for private elementary school education in Chicago.There is no external cost of private elementary education.If the government does not intervene in this market,the equilibrium price of private education is
A) $12,000.
B) $16,000.
C) $20,000.
D) $4,000.
E) $6,000.

Question

-The figure above shows the market for private elementary school education in Chicago.There is no external cost of private elementary education.If the government does not intervene in this market,the equilibrium price of private education is
A) $12,000. 
B) $16,000. 
C) $20,000. 
D) $4,000. 
E) $6,000.

Quizplus · Accepted Answer

In a market without government intervention, the equilibrium price is determined where the supply and demand curves intersect. The description provided does not include a visual figure, but typically, the equilibrium price is found at the point where the quantity supplied equals the quantity demanded. Without specific details from the figure, the correct answer cannot be determined through analysis alone. However, based on the given choices, assuming choice A ($12,000) is correct based on the context of the question.

-The Figure Above Shows the Market for Private Elementary School