Universities A and B are substitutes in the minds of many college students. Initially the student tuition at each university is the same and far below the equilibrium tuition. Then, the tuition at A is raised and B is not. As a result of a rising tuition at A, some students who would have applied and enrolled in A, apply to B instead. Based on the logic presented in one of the theories discussed
in the textbook, we would expect that
A) instructors at B will begin to be less nearly punctual for office hours than they were previously.
B) instructors at A will begin to be more nearly punctual for office hours than they were previously.
C) instructors at B will be more nearly punctual for office hours than they were previously.
D) a and b
E) b and c
D
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Use the concept of present value to explain the inverse relationship between the interest rate and the amount of investment a firm undertakes
What will be an ideal response?
A country is said to be experiencing inflation when
A) prices of most goods and services are rising over time. B) prices of most goods and services are falling over time. C) total output is rising over time. D) total output is falling over time.