Author Question: Education in the United States is heavily subsidized by the government. This fact suggest that I. ... (Read 98 times)

audie · **on:** Jun 29, 2018

Education in the United States is heavily subsidized by the government. This fact suggest that

I. less than the efficient amount of education would be provided by an unregulated market.
II. the marginal social benefit of education is greater than marginal social cost of education.
A) I only
B) II only
C) both I and II
D) neither I nor II

Question 2

In the figure above, if the market is a single-price monopoly rather than a perfectly competitive industry, the transfer of consumer surplus from consumers to the producer is the area of

A) trapezoid beic.
B) triangle abe.
C) rectangle begd.
D) rectangle befc.