-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 number of students being privately educated is
A) 0 students.
B) 200 students.
C) 400 students.
D) 600 students.
E) None of the above answers is correct.

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 number of students being privately educated is
A) 0 students. 
B) 200 students. 
C) 400 students. 
D) 600 students. 
E) None of the above answers is correct.

Quizplus · Accepted Answer

In a market without government intervention, the equilibrium is determined by the intersection of the supply and demand curves. The figure indicates that this intersection occurs at 400 students.

-The Figure Above Shows the Market for Private Elementary School