Question

In what ways is the market for public post-secondary education an example of a third-party-payer market? What's the impact of this on total educational expenditures? LO5

    In what ways is the market for public post-secondary education an example of a third-party-payer market? What's the impact of this on total educational expenditures? LO5

Macroeconomics

David Colander 8th Edition

Chapter 5, Problem 16

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Step 1

A third-party-payer market is one in which the consumer of a service does not pay the full cost of the service directly. Instead, a third party—often an insurance company or government entity—covers a significant portion of the expenses. This arrangement can lead Show more…

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In what ways is the market for public post-secondary education an example of a third-party-payer market? What's the impact of this on total educational expenditures? LO5

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