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1) The Singapore government is deciding on converting Singapore Polytechnic to be a full-fledged instituition offering only degree and higher degrees.

Using demand and supply analysis (with diagrams), describe:

1) The effect on the wages of degree holders (both local and foreign)

2) Positive externalities
occur when we do things that are good for us, but also inadvertently good for others. Preschool provides private benefits directly to families and kids, but it also provides social benefits to the rest of us—social benefits that the parents of young children do not account for when deciding whether to pay for preschool education.

What are the social benefits of preschool? Why might government intervention lead to a more efficient preschool outcome?