Education is sometimes cited as a source of external benefits. In what way, if at all, does your receiving a college education benefit other people?
Answer to relevant QuestionsBy any absolute or relative measure, mail order and online shopping has increased dramatically over the past few decaders. Explain why this might be the case on account of the growth of two- wage- earner families. If the price of gasoline is $ 4.00 per gallon and the price elasticity of demand is 0.4, how much will a 10 percent reduction in the quantity placed on the market increase the price? Will total spending on gasoline rise? If ...Should entrance fees be charged at our national parks? Explain why or why not. Suppose there are three consumers—two “hawks” and one “dove.” The dove receives negative benefits from (i.e., is harmed by) national defense, but the hawks value defense. Show graphically how an efficient output of ...Distinguish between efficiency in production and efficiency in output. Can an industry achieve efficiency in production and still produce at an inefficient output level? Explain.
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