When people make decisions about the quantity of education to undertake, they balance the marginal social benefit against the marginal private cost.

Name: When people make decisions about the quantity of education to undertake, they balance the marginal social benefit against the marginal private cost.
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When individuals decide on the amount of education to pursue, they typically weigh the marginal private benefit against the marginal private cost, not the marginal social benefit.

When People Make Decisions About the Quantity of Education to Undertake