A family will purchase private education as long as the MPB MPC.

Name: A family will purchase private education as long as the MPB > MPC.
Brand: Quizplus
Rating: 4.8 (46 reviews)

Question

A family will purchase private education as long as the MPB > MPC.

Quizplus · Accepted Answer

The MPB (Marginal Private Benefit) is the additional benefit received by the family from purchasing private education, and the MPC (Marginal Private Cost) is the additional cost they incur. As long as the MPB is greater than the MPC, indicating that the benefits outweigh the costs, then the family will choose to purchase private education.

A Family Will Purchase Private Education as Long as the MPB