Compare price of education-quantity of education traded

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Assignment:

The government wishes to encourage more people in the country to pursue education and is considering implementing a price ceiling or providing a subsidy to the consumers. Compare and contrast the price of education, the quantity of education traded and the welfare effects of these two policies. An economist claimed that providing a subsidy to the consumers is more efficient than imposing a price ceiling. Appraise the validity of this claim and support your answers with suitable diagrams for the education market.

Reference no: EM133564085

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