The graph shows the marginal private benefit from a dentistry degree and the marginal cost of obtaining a dentistry degree.
The marginal external benefit is $4,000 per dentistry graduate per year.
Suppose the government decides to provide public dental schools.
Draw the marginal social benefit curve. Label it MSB.
Draw a line that shows the tuition that dental schools charge to achieve the efficient number of students. Label it Tuition.

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer

Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.