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28. Explain, using appropriate diagram(s), why state interference may be necessary to ensure that the socially optimum level of education is reached Identify social benefits that accrue to the economy as a whole as the result of those many individual decisions to accumulate more human capital Further identify the appropriate level of schooling that needs to be publicly funded in developing world and use an appropriate diagram to substantiate your answer. Also explain under what circumstances the publicly funded education system can promote the rise of inequality in society.
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