The return to schooling for society is higher than the return to schooling for the individual...
The return to schooling for society is higher than the return to schooling for the individual if
a. the concept of diminishing returns applies to education.
b. the concept of constant returns to scale applies to education.
c. human capital conveys positive externalities.
d. investment in human capital involves no opportunity costs.
Homework Answers
The return to schooling for society is higher than the return to schooling for the individual if human capital conveys positive externalities.
The country which are less developed children drop out of school at an early age which are bad because benefits of additional schooling is high.
So externalities are the main reason that should be intervene in economy.
So option C is the correct statement.
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