Regardless of expertise, a public school pays all teachers the same annual wage. At $70,000 it hires good teachers in all areas except science. Because science is a field in demand, the school can only hire poor science teachers. It would have to pay science teachers ,000 to hire good science teachers. If one out of five teachers is a science teacher, what is the marginal expense of getting a good science teacher instead of a poor one?
-$90,000
-$100,000
-$20,000
-$450,000
If possible, explain your answer and tell me what your credentials regarding economics are.
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