Economics · Development Economics
The social return to schooling is higher than the individual return to schooling if:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1the concept of diminishing marginal returns applies to education.
- 2the concept of constant returns to scale applies to education.
- 3human capital conveys positive externalities.✓
- 4investment in human capital involves no opportunity costs.
Correct answer
human capital conveys positive externalities.
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