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Public schooling is a "take-it-or-leave-it" option. Individuals are not allowed to supplement public education with private lessons. How would the diagram be modified if parents could purchase additional houses of education for their children who are already enrolled in public school? a. No change to the diagram b. The budget constraint shifts to the right and passes point X c. The budget constraint shifts left and passes point c0 d. The indifference curve shifts down and to the left and passes point x

Public schooling is a "take-it-or-leave-it" option. Individuals are not allowed to supplement public education with private lessons. How would the diagram be modified if parents could purchase additional houses of education for their children who are already enrolled in public school? a. No change to the diagram b. The budget constraint shifts to the right and passes point X c. The budget constraint shifts left and passes point c0 d. The indifference curve shifts down and to the left and passes point x

Principles of Economics, 7th Edition (MindTap Course List)
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter20: Income Inequality And Poverty
Section: Chapter Questions
Problem 1QCMC
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Public schooling is a "take-it-or-leave-it" option. Individuals are not allowed to supplement public education with private lessons. How would the diagram be modified if parents could purchase additional houses of education for their children who are already enrolled in public school?

a. No change to the diagram
b. The budget constraint shifts to the right and passes point X
c. The budget constraint shifts left and passes point c0
d. The indifference curve shifts down and to the left and passes point x
Quantity of all other goods A. ep lo B Quantity of all other goods Quantity of education B. X eo ep ii B Quantity of all other goods Quantity of education C. Co A ep B i Co Quantity of education
Transcribed Image Text:Quantity of all other goods A. ep lo B Quantity of all other goods Quantity of education B. X eo ep ii B Quantity of all other goods Quantity of education C. Co A ep B i Co Quantity of education
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