Answered>Order 9377
Using education vs. “all other goods”, draw the following budget constraints: 1.) no public/govt. provision of education (i.e., all private; standard budget constraint); 2.) public provision of an (arbitrary) amount of education, E0, for free (with private education, E > E0, still available as an alternative). (Hint: see p. 73-74’s commencement ticket example.) b.) Now, […]