If You Compared the Short-Run Demand and Long-Run Demand for Education

question 158

Multiple Choice

If you compared the short-run demand and long-run demand for education at your college, you would almost certainly find that

• A) the long-run demand curve was steeper than the short-run demand curve.
• B) a tuition increase would reduce enrollment more in the long run than in the short run.
• C) a reduction in tuition would increase enrollment in the short run but not in the long run.
• D) the short-run and long-run demand curves were identical.

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Definitions:

Eukaryotes

Organisms whose cells contain a nucleus and other organelles enclosed within membranes.

Prokaryotes

Unicellular organisms that lack a membrane-bound nucleus and other organelles, with bacteria and archaea being the primary examples.

Nucleotides

Fundamental components of nucleic acids like DNA and RNA, made up of a sugar molecule, a phosphate group, and a nitrogen-containing base.

Amino Acid

Organic compounds that serve as the building blocks of proteins, which are crucial for most biological processes.