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(thousands of dollars per st… Show more Enrollment (millio

Paper help Economics (thousands of dollars per st… Show more Enrollment (millio

Economics

(thousands of dollars per st… Show more Enrollment (millio

(thousands of dollars per st… Show more Enrollment (millions of students per year) Marginal social cost (thousands of dollars per student per year) Marginal private benefit (thousands of dollars per student per year) Marginal external benefit (thousands of dollars per student per year) 4 4 16 8 8 6 14 7 12 8 12 6 16 10 10 5 20 12 8 4 24 14 6 3 3) The table above shows costs and benefits arising from college education. There is no government involvement and the schools are competitive. a) How many students are enrolled and what is the tuition? b) What is the efficient level of enrollment? c) What is the deadweight loss? Why does it arise? d) If the government provides the efficient amount of education, how many school places does it offer and what is the tuition? Explain your answer. e) If the government provides the efficient amount of education, of the tuition paid by a student what does the government pay and what does what a student pay? Rich Text Area • Show less

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