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48- Price and cost (thousands of dollars) The graph shows the marginal private benefit of a veterinary degree and the marginal cost of obtaining a veterinary degree. The marginal external benefit is $8,000 per veterinary graduate per year. If the government offers vouchers to those who enroll at a veterinary school, what is the value of the voucher that achieves the efficient number of students? 40- Draw the marginal social benefit curve. Label it MSB Draw an arrow at the efficient number of students to show the value of the voucher that achieves the efficient number of students. The value of the voucher that achieves the efficient number of students is $☐ per student >>> Remember that the quantity given on the y-axis is in thousands of dollars. 32- 24- S-MC 16- 8- D=MB 0 20 30 Students (thousands per year) >>> Draw only the objects specified in the question G

48- Price and cost (thousands of dollars) The graph shows the marginal private benefit of a veterinary degree and the marginal cost of obtaining a veterinary degree. The marginal external benefit is $8,000 per veterinary graduate per year. If the government offers vouchers to those who enroll at a veterinary school, what is the value of the voucher that achieves the efficient number of students? 40- Draw the marginal social benefit curve. Label it MSB Draw an arrow at the efficient number of students to show the value of the voucher that achieves the efficient number of students. The value of the voucher that achieves the efficient number of students is $☐ per student >>> Remember that the quantity given on the y-axis is in thousands of dollars. 32- 24- S-MC 16- 8- D=MB 0 20 30 Students (thousands per year) >>> Draw only the objects specified in the question G

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Price and cost (thousands of dollars) The graph shows the marginal private benefit of a veterinary degree and the marginal cost of obtaining a veterinary degree. The marginal external benefit is $8,000 per veterinary graduate per year. If the government offers vouchers to those who enroll at a veterinary school, what is the value of the voucher that achieves the efficient number of students? 48 40- Draw the marginal social benefit curve. Label it MSB. Draw an arrow at the efficient number of students to show the value of the voucher that achieves the efficient number of students. The value of the voucher that achieves the efficient number of students is $ >>> Remember that the quantity given on the y-axis is in thousands of dollars. per student. 32- 24- S=MC 16- 8- D= MB 0 10 20 30 Students (thousands per year) O N >>> Draw only the objects specified in the question.
Transcribed Image Text:Price and cost (thousands of dollars) The graph shows the marginal private benefit of a veterinary degree and the marginal cost of obtaining a veterinary degree. The marginal external benefit is $8,000 per veterinary graduate per year. If the government offers vouchers to those who enroll at a veterinary school, what is the value of the voucher that achieves the efficient number of students? 48 40- Draw the marginal social benefit curve. Label it MSB. Draw an arrow at the efficient number of students to show the value of the voucher that achieves the efficient number of students. The value of the voucher that achieves the efficient number of students is $ >>> Remember that the quantity given on the y-axis is in thousands of dollars. per student. 32- 24- S=MC 16- 8- D= MB 0 10 20 30 Students (thousands per year) O N >>> Draw only the objects specified in the question.
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