The figure above shows the demand for college education (D), the marginal social benefit of college education (MSB), and the marginal cost of the private schools (MC).
-Using the figure above,suppose education is provided by public colleges,where tuition is set at $10,000 a year.When the market is in equilibrium,the marginal social benefit is ________,the marginal cost is ________,and the number of students enrolled is ________.
A) $25,000; $25,000; efficient
B) $25,000; $10,000; inefficient
C) $15,000; $25,000; inefficient
D) $15,000; $15,000; efficient
E) $25,000; $15,000; inefficient

Question

The figure above shows the demand for college education (D), the marginal social benefit of college education (MSB), and the marginal cost of the private schools (MC).
-Using the figure above,suppose education is provided by public colleges,where tuition is set at $10,000 a year.When the market is in equilibrium,the marginal social benefit is ________,the marginal cost is ________,and the number of students enrolled is ________.
A) $25,000; $25,000; efficient 
B) $25,000; $10,000; inefficient 
C) $15,000; $25,000; inefficient 
D) $15,000; $15,000; efficient 
E) $25,000; $15,000; inefficient

Quizplus · Accepted Answer

The Answer of  
The figure above shows the demand for college education (D), the marginal social benefit of college education (MSB), and the marginal cost of the private schools (MC).
-Using the figure above,suppose education is provided by public colleges,where tuition is set at $10,000 a year.When the market is in equilibrium,the marginal social benefit is ________,the marginal cost is ________,and the number of students enrolled is ________.
A) $25,000; $25,000; efficient 
B) $25,000; $10,000; inefficient 
C) $15,000; $25,000; inefficient 
D) $15,000; $15,000; efficient 
E) $25,000; $15,000; inefficient

The Figure Above Shows the Demand for College Education (D)