The figure below shows the demand and supply curves in the market for elementary education. Figure 13.1
In the figure,
D: Private demand curve for elementary education
D + s: Demand curve which includes public benefits
S: Supply curve of education
Price and Quantity have been taken on vertical and horizontal axes respectively.
According to Figure 13.1, the outcome of an unregulated, unsubsidized market would be:
A) point a.
B) point b.
C) point c.
D) point d.
E) point e.
Correct Answer:
Verified
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