-The figure shows the market for college education.If the market for education is competitive and with no government intervention,the equilibrium quantity of college students is ________ million and the efficient quantity of college students is ________ million.
A) 2; 4
B) 8; 2
C) 8; 4
D) 4; 8
E) 0; 10

Question

-The figure shows the market for college education.If the market for education is competitive and with no government intervention,the equilibrium quantity of college students is ________ million and the efficient quantity of college students is ________ million.
A) 2; 4 
B) 8; 2 
C) 8; 4 
D) 4; 8 
E) 0; 10

Quizplus · Accepted Answer

In a competitive market without government intervention, the equilibrium quantity is determined by the intersection of supply and demand, which is 4 million. The efficient quantity, considering external benefits, is higher at 8 million.

-The Figure Shows the Market for College Education