4. College education benefits society by producing a more employable workforce, reducingcrime and creating a better informed citizenry. Thus, the social benefits of collegeeducation exceed the private benefits for any level of college education. One way to obtainthe economically efficient amount of college education is for governments to subsidizecollege education.Price ofcollege ed iw 2001 ynem wodvilamstxs svitizoq si gnitongl dolieducation($)SupplyP₂PoP₁vita0Q₁quinqo vitsiooz or ai tedW 13D₂=socialD₁ = benefitprivatebenefitQoQuantity ofcollege educationa. What is the size of the per-student subsidy that the government must provide tointernalize the external benefits? (Note that the subsidy can be granted to the educationinstitutions or to the students directly or indirectly; for example, through low-intereststudent loans.)

Providing a subsidy for education is a common way for governments to address positive externalities…

4. College education benefits society by producing a more employable workforce, reducing crime and creating a better informed citizenry. Thus, the social benefits of college education exceed the private benefits for any level of college education. One way to obtain the economically efficient amount of college education is for governments to subsidize college education. Price of college ad iw post your wodylilamstxs svitizoq o gnitong d education ($) Supply P2 Po P₁ 0 Saben viitmanqo visione ori ai terW D₂= social benefit Q₁ D₁ = private benefit Qo Quantity of college education a. What is the size of the per-student subsidy that the government must provide to internalize the external benefits? (Note that the subsidy can be granted to the education institutions or to the students directly or indirectly; for example, through low-interest student loans.)

4. College education benefits society by producing a more employable workforce, reducing crime and creating a better informed citizenry. Thus, the social benefits of college education exceed the private benefits for any level of college education. One way to obtain the economically efficient amount of college education is for governments to subsidize college education. Price of college ad iw post your wodylilamstxs svitizoq o gnitong d education ($) Supply P2 Po P₁ 0 Saben viitmanqo visione ori ai terW D₂= social benefit Q₁ D₁ = private benefit Qo Quantity of college education a. What is the size of the per-student subsidy that the government must provide to internalize the external benefits? (Note that the subsidy can be granted to the education institutions or to the students directly or indirectly; for example, through low-interest student loans.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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