. Exhibit 17-8 represents the consumer market for higher education. Exhibit 17-8 dollars per year marginal cost 45,000 40,000 35,000 30,000 5,000 20,000 marginal social 15,000 benefit 10,000 marginal private 1 2 3 4 5 6 7 89 years of higher education a. If people base their education decisions only on the marginal private benefit of education, how many years of education will they choose to get?

. Exhibit 17-8 represents the consumer market for higher education. Exhibit 17-8 dollars per year marginal cost 45,000 40,000 35,000 30,000 5,000 20,000 marginal social 15,000 benefit 10,000 marginal private 1 2 3 4 5 6 7 89 years of higher education a. If people base their education decisions only on the marginal private benefit of education, how many years of education will they choose to get?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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