pplication Kindly explain. Suppose education has external benefits. Explain the implication of private schools being subsidized by the government. Could a better outcome be achieved if education were provided by the government?

Q: What are the effects of government intervention in the market?

A: Government intervention in the market is very necessary as it leads to efficiency in the market…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: A modification in the amount demanded relates to the number of a product that customers are willing…

Q: B. The figure below shows the market for education. 20 S- MSC: 12 MSE D- MD 2 4 10 Quantity…

A: Positive externality refers to the external benefits to third party which are not directly involved…

Q: There are never unintended consequences of government intervention to address market failures. true…

A: In the mentioned question we have been asked whether thee are consequences of government…

Q: Why might redistribution across communities make sense for the provision of education? a-there are…

A: The correct option is c ‘there is externality associated with education’.

Q: You should research evidence of market failure and government intervention in the assigned country.…

A: Market failure is the situation when there is an insufficient supply of a good or service as…

Q: Explain how market failure can be used to justify government intervention in medical care markets

A: Market failure in healthcare could occur due to a number of reasons. This is because healthcare is a…

Q: The laissez-faire price system a. Assures economic efficiency even when there are externalities. b.…

A: The Classical economists advocated that the markets are self-regulated in nature and there should be…

Q: ost countries today have subsidised the provision of education. Consider an imaginary country,…

A: Solving 1 to 3 combined

Q: What is the difference between the PRIVATE COST and the SOCIAL COST of education?

A: The amount that is being paid by an individual or entity for purchasing a service or good in order…

Q: Explain the PRIVATE COST of education by using graph.

A: Introduction:   In this time of privatization and coming about the commercialization of training at…

Q: Which of the following factors contribute to economicgrowth?   a)an increase in the proportion of…

A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…

Q: Is market failure either necessary or sufficient for government intervention

A: Market failure refers to a situation when the allocation of goods or services by the forces of free…

Q: All of the following are examples of public sector projects, except Select one: O a Prisons O b.…

A: Introduction Public sector project Public goods are those goods which are non rival and non…

Q: the effect of government regulation on auto emission is related to micro econimics or macro…

A: Microeconomics and macroeconomics are two branches of economics. Microeconomics is deals with the…

Q: Illustrate graph (s) that show about the Private Cost in education with explanation.

A: Private cost: It refers to the cost that is being paid by the person to get goods and services in…

Q: Explain the graph that I have provided about the PRIVATE COST and SOCIAL COST of EDUCATION

A: Cost is defined as the total expenditure incurred in the production of goods or services. Cost is…

Q: three cases of market failure

A: Answer A market failure is a situation in which there is an inefficient allocation of goods and…

Q: Contrary to predictions, for-profit colleges and universities are more expensive than public…

A: Between 1980 and 2005, tuition at private colleges in the United States more than doubled in real…

Q: Because education generates a positive externality, ..... O A. subsidies to colleges or vouchers to…

A: A positive externality occurs when the production of goods and services indirectly benefits a third…

Q: Note : please don't copy from other sources   Which of the following is an example of market…

A: Public goods create market failure because a country cannot define the tax that each individual…

Q: Which of the following does NOT generate negative externalities in part through health care costs?…

A: The externalities are the additional cost or benefit incurred for the third individual who is not…

Q: There are never unintended consequences of government intervention to address market failures. True…

A: In a  free market, price is determined by pure market forces of demand and supply. Equilibrium price…

Q: (MCQ) If there are no externalities a competitive market achieves economic efficiency. If there is…

A: Externalities: Externalities are the cost or benefits that are incurred or received by the third…

Q: Explain the PRIVATE COST and SOCIAL COST of education by using g

A:

Q: Education provides both private benefits to those who receive it and broader social benefits for the…

A: Externality is the negative or positive spillover by the consumer or producer which affects the…

Q: . Exhibit 17-8 represents the consumer market for higher education. Exhibit 17-8 dollars per year…

A: We have the following information-

Q: A medical company develops a treatment for spinal cord injuries and allows patient to walk again. In…

A: Medical company develops a treatment for spinal injuries. This development have postive impact on…

Q: Adam Smith’s theory of the invisible hand is often used to justify a hands-off approach to market…

A: The automatic equibrialization of demand and supply in a free market situation by any unobservable…

Q: Evaluate the arguments for government intervention in the markets.

A: Government interventions refer to the interference of the government in the market. This is…

Q: Which of the following is NOT an example of government intervention in the market? a. Corporate…

A: When markets allocate resources inefficiently, governments intervene in the market. Resources are…

Q: Most countries today have subsidised the provision of education. Consider an imaginary country,…

A: An externality is a cost or benefit that a producer incurs or receives but is not compensated for.…

Q: The diagram below represents the market for education. Assume that education provides several…

A: Positive externality is the external benefit society gets by the production or consumption of the…

Q: The idea that contact with others with high levels of human capital increases ones own human capital…

A: Meaning of Human Capital The term human capital refers to the situation under which an individual…

Q: Which of the following is not an issue that arises with educational vouchers? a- excessive school…

A: In a voucher system, a school voucher is also called an education voucher. It is a certificate of…

Q: Explain about the PRIVATE COST of EDUCATION.

A: Answer in Step 2

Q: Due to harmful effect in smoking, the government would like to discourage smoking. Appraise the…

A: There are different ways through which the government can discourage the consumption of smoking. It…

Q: Why does government intervention become necessary in the situation of market failure?

A: Market failure is an economic situation wherein the goods and services in an economy cannot be…

Q: Explain the measures used by the government to correct each of the following sources of market…

A: Market Failure refers to the inefficiencies in the distributions of goods and services in the…

Q: The table below shows cost data for producing different amounts of higher education. The market for…

A: With the positive consumption externality, we have SMB > PMB.

Q: What controversies surround the use of border prices in economic cost benefit analysis?

A: Cost benefit analysis is characterized as a way to deal with decide the shortcomings and qualities…

Q: Propose TWO sustainable ways in which businesses could assist the schools to ensure that school…

A: Businesses could come up with innovation which would increase the sustainability of schools.

Q: What is the 'private cost' of education?

A: When we are considering private costs or private benefits, we shall ignore the externalities.

Q: Suppose tuition fees for a university increase from £3,000 to £9,000. After the increase, enrolment…

A: Note- Since you have asked question with multiple sub-parts, we will solve the first three…