Problem
The marginal cost of educating a college student online is $3,000 a year. Table 1 shows the marginal private benefit schedule from a college education. The marginal external benefit is 50 percent of the marginal private benefit.
If the government offers vouchers to students and values them so that the efficient number of students will enroll, what is the value of the voucher?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.