If education has private benefits to an individualas well as external benefits to society, explain whya less-than-optimal amount of education occurs.
If education has private benefits to an individualas well as external benefits to society, explain whya less-than-optimal amount of education occurs.
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter15: The Shortcomings Of Free Markets
Section: Chapter Questions
Problem 4DQ
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If education has private benefits to an individual
as well as external benefits to society, explain why
a less-than-optimal amount of education occurs.
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