-The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, how many students are enrolled in college?
A) 12 million
B) 20 million
C) 16 million
D) 24 million

Question

-The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, how many students are enrolled in college?
A) 12 million 
B) 20 million 
C) 16 million 
D) 24 million

Quizplus · Accepted Answer

In a perfectly competitive and unregulated market, the number of students enrolled in college is determined where marginal cost equals marginal benefit. The table indicates that this equilibrium occurs at 16 million students.

-The Table Above Shows the Marginal Costs and Marginal Benefits