The Anteater Family can spend its money on education (e) or other goods (g). The family's...

        

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The Anteater Family can spend its money on education (e) or other goods (g). The family's utility over e and g is given by U (e, g) = 2e0.5 +290.5 The Anteaters have income of $30,000 to spend on e and g each year. Assume there is no public education system; the only option is to send their children to private school. Assume the price per unit (e.g., per hour) of private education is $100, and the price per unit of other goods is $100. The number of units of private education the Anteaters optimally consume is units (enter only a number in the blank, and round to the nearest integer if necessary). As in the previous two questions, the Anteater Family can spend its money on education (e) or other goods (g). The family's utility over e and g is given by U (e, g) 2e0.5 + 290.5 = The Anteaters have income of $30,000 to spend on e and g each year. Now, however, there is the option of sending children to public school. If the Anteaters send their children to public school, they get 250 units of e for a price of $0. If the Anteaters send their children to private school, they can choose any number of units of e at a price of $50 per unit The price of all other goods remains $100 per unit. Calculate the utility level associated with sending their children to public school and spending all their money on other goods. Calculate the utility level associated with sending their children to private school and spending their remaining money on other goods (i.e., the utility level associated Given your answers, the Anteaters will send their children to [Select] [Select] receive. school. In this case, free public education the quantity of education the Anteater children As in the previous three questions, the Anteater Family can spend its money on education (e) or other goods (g). The family's utility over e and g is given by U (e, g) = 2e0.5 + 290.5 As in the previous question, the Anteaters can send their children to public school in which case they get 250 units of e for a price of $0. Alternatively, they can send their children to private school, in which case they can choose any number of of e at a price of $50 per unit (as in Questions 12 and 13). The price of all other goods remains $100 per unit. However, now suppose that, as a result of the introduction of the public school option, the Anteaters must pay taxes that reduce their income to $24,000. They must pay these taxes regardless of whether they send their children to public or private school (so their income is $24,000 no matter their choice). Does the reduction in income owing to taxes change the Anteaters' choice of which type of school to send their children? Yes, they would choose differently No, they would choose the same The Anteater Family can spend its money on education (e) or other goods (g). The family's utility over e and g is given by U (e, g) = 2e0.5 +290.5 The Anteaters have income of $30,000 to spend on e and g each year. Assume there is no public education system; the only option is to send their children to private school. Assume the price per unit (e.g., per hour) of private education is $100, and the price per unit of other goods is $100. The number of units of private education the Anteaters optimally consume is units (enter only a number in the blank, and round to the nearest integer if necessary). As in the previous two questions, the Anteater Family can spend its money on education (e) or other goods (g). The family's utility over e and g is given by U (e, g) 2e0.5 + 290.5 = The Anteaters have income of $30,000 to spend on e and g each year. Now, however, there is the option of sending children to public school. If the Anteaters send their children to public school, they get 250 units of e for a price of $0. If the Anteaters send their children to private school, they can choose any number of units of e at a price of $50 per unit The price of all other goods remains $100 per unit. Calculate the utility level associated with sending their children to public school and spending all their money on other goods. Calculate the utility level associated with sending their children to private school and spending their remaining money on other goods (i.e., the utility level associated Given your answers, the Anteaters will send their children to [Select] [Select] receive. school. In this case, free public education the quantity of education the Anteater children As in the previous three questions, the Anteater Family can spend its money on education (e) or other goods (g). The family's utility over e and g is given by U (e, g) = 2e0.5 + 290.5 As in the previous question, the Anteaters can send their children to public school in which case they get 250 units of e for a price of $0. Alternatively, they can send their children to private school, in which case they can choose any number of of e at a price of $50 per unit (as in Questions 12 and 13). The price of all other goods remains $100 per unit. However, now suppose that, as a result of the introduction of the public school option, the Anteaters must pay taxes that reduce their income to $24,000. They must pay these taxes regardless of whether they send their children to public or private school (so their income is $24,000 no matter their choice). Does the reduction in income owing to taxes change the Anteaters' choice of which type of school to send their children? Yes, they would choose differently No, they would choose the same