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Wage Rates, Working Hours, and Worker Supply


Discuss whether or not the government should subsidise the production of books.


Public Finance and Government Intervention

Preview Answer


I Introduction

II. Reasons for subsidizing book production
A. Increase in supply of books
B. Reduction in costs of production
C. Lowering of book prices
D. Increase in demand for book
E. Positive impact on education standards, literacy, productivity, output, and economic growth
F. Reduction in the cost of education
G. Prevention of unemployment in the publishing industry

III. Reasons against subsidizing book production
A. Some publishers may already be making high profits
B. Subsidies may encourage inefficiency and poor quality
C. Opportunity cost of spending on education
D. Waste of resources due to the growth of e-books and the internet
E. External costs such as deforestation
F. Certain books may not be suitable for subsidies

V. Conclusion

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