Identify the University That Instituted a 3-Year Program That Gradually

question 45

Multiple Choice

Identify the university that instituted a 3-year program that gradually became the norm.

• A) Yale
• B) Harvard
• C) Princeton
• D) University of Michigan

---

Definitions:

Price Elasticity

measures how much the quantity demanded of a good responds to a change in the price of that good.

Elastic

Refers to a situation where the demand or supply for a product or service significantly changes in response to price changes.

Coefficient

In algebraic expressions, it's the numerical or fixed quantity that comes before and multiplies the variable.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.