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Author Question: Why should people without children pay some tax to support local schools? What will be an ideal ... (Read 73 times)

jwb375

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on: Jun 29, 2018
Why should people without children pay some tax to support local schools?
 
  What will be an ideal response?

Question 2

Why would the amount of education provided be inefficient if subsidies to education were not provided?
 
  What will be an ideal response?


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josephsuarez

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Education generates an external benefit. Society as a whole, including people without children, benefits from having better educated citizens. Such a tax provides the funding for a subsidy that helps achieve the efficient amount of education.

Answer to Question 2

Private decision makers consider only private benefits and costs when purchasing education. As a result, the value that all of society places on the last unit of education purchased exceeds the cost of that education. This is not efficient because more education would generate social benefits that exceed social costs. Subsidies can overcome this problem by reducing the private cost of education, thereby leading to a greater quantity of education being provided.


jwb375

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

kthug

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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