Suppose that elementary education creates a positive externality. If the governm

Question

Suppose that elementary education creates a positive externality. If the government does not subsidize education, then Question 22 options: 1) the equilibrium quantity of education will be greater than the socially optimal quantity of education. 2) the equilibrium quantity of education will be less than the socially optimal quantity of education. 3) the equilibrium quantity of education will be equal the socially optimal quantity of education. 4) There is not enough information to answer the question.

Explanation / Answer

. 3) the equilibrium quantity of education will be equal the socially optimal quantity of educatio

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