Exhibit 5-2 Refer to Exhibit 5-2. If the Tuition Is Set at Is

question 64

Multiple Choice

Exhibit 5-2

Refer to Exhibit 5-2. If the tuition is set at $60 there will be

• A)a shortage at 10 a.m. and a surplus at 8 a.m.
• B)a surplus at 10 a.m. and a shortage at 8 a.m.
• C)equilibrium at both 10 a.m. and 8 a.m. because the price is half-way between the individual equilibria.
• D)a surplus at both 10 a.m. and 8 a.m.
• E)a shortage at both 10 a.m. and 8 a.m.

---

Definitions:

Deficit Principle

A concept that suggests individuals are less motivated to pursue a need once it has been substantially satisfied.

Maslow's Theory

A psychological theory proposed by Abraham Maslow, outlining a hierarchy of human needs from basic physiological needs to self-actualization.

Human Needs

The essential requirements that individuals seek to fulfill, such as physiological, safety, social, esteem, and self-actualization needs, according to Maslow's hierarchy.

Hawthorne Studies

A series of influential research projects that examined the effects of work environment conditions on employee productivity and morale in the 1920s and 1930s.