(a) Explain why education is not a public good. (b) Using a carefully labeled diagram explain how the introduction of free public education might lead to no change in the consumption of private education. Does this imply that there is no difference in quality between private and public education?
(a) Explain why education is not a public good. (b) Using a carefully labeled diagram explain how the introduction of free public education might lead to no change in the consumption of private education. Does this imply that there is no difference in quality between private and public education?
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter4: Markets In Action
Section4.3: Market Failure
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(a) Explain why education is not a public good.
(b) Using a carefully labeled diagram explain how the introduction of free public education might lead to no change in the consumption of private education. Does this imply that there is no difference in quality between private and public education?
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