In the figure above, with no government involvement and if the colleges are competitive, what is the tuition?
A) $10,000 per year
B) $14,000 per year
C) $8,000 per year
D) $16,000 per year
A
Economics
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If a perfectly competitive industry is taken over by a monopolist, the market price will rise
a. due to improvements in technology b. assuming that technology is unchanged c. and output will rise d. unless barriers to entry are imposed e. until they equal marginal revenue
Economics
You're buying snacks for an Econ Club meeting. You've been given $100 to spend on chips and soda. If bags of chips cost $3 each and soda costs $1 each and you spend as much of your money as possible on chips, how many chips and sodas will you have for the meeting?
A. 33 bags of chips, 0 soda B. 33 bags of chips, 1 soda C. 34 bags of chips, 1 soda D. 34 bags of chips, 2 sodas
Economics