. 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?
Chapter1: Making Economics Decisions
Section: Chapter Questions
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4. 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
benefit
15,000
10,000
marginal private
lubdnefit
1
3
4
7
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?
Page 7 of 7
1692 words
English (United States)
Focus
225%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F71e21103-2fb4-413b-9c9a-5ba0d07c7559%2F8dbe31ee-f7ad-4dc4-8356-397f343834f6%2Fmcjlvko_processed.png&w=3840&q=75)
Transcribed Image Text:W ECON 2100
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Аa v
E - E v E v E E
Times New...
12
AaBbCcDdE
AaBbCcDdE
AaBbCcDc AaBbCcDdE AaBbCcDc
AaBbCcDdEe
>
AaBbCcDdEe
Paste
A
A
Subtle Emph...
Styles
Pane
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В
U
v ab X2
Normal
No Spacing
Heading 1
Heading 2
Title
Subtitle
4. 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
benefit
15,000
10,000
marginal private
lubdnefit
1
3
4
7
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?
Page 7 of 7
1692 words
English (United States)
Focus
225%
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