Author Question: Using the figure above, suppose education is provided by public colleges. At what level should ... (Read 66 times)

moongchi · **on:** Jun 29, 2018

Using the figure above, suppose education is provided by public colleges. At what level should tuition be set to ensure the efficient number of students?

A) 10,000
B) 5,000
C) 20,000
D) 25,000
E) 15,000

Question 2

How would economists interpret the following facts? Fact: Over the past two decades the relative price of new textbooks has risen dramatically. Another fact: Record numbers of new textbooks have been purchased by students over the past two decades.

A) The law of demand has been violated.
B) The law of supply has been violated.
C) The supply and demand process in new textbooks hasn't worked correctly.
D) The demand for textbooks has increased.
E) The facts aren't true.