What are the potential effects in the market for a college education if the number of colleges offering degrees increases. a) draw a supply/demand graph of the market for college education. b) indicate starting equilibrium price and equilibrium quantity. c) Analyze graphically the effect of the change given above on equilibrium price and equilibrium quantity in the automobile marke
What are the potential effects in the market for a college education if the number of colleges offering degrees increases. a) draw a supply/
The college education generates positive externality in the market, the market for a college education is defined as how much degree it produces at what level of price. For the vast majority, the advantages of accepting an advanced degree far exceed the costs, which is a case of customer surplus. This post goes over the financial aspects of figuring customer surplus utilizing the market for College Education.
a) The supply and demand graph for a college education is given below
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