If a College Admits Only a Fixed Number of Applicants

question 371

Multiple Choice

If a college admits only a fixed number of applicants every year, then the school's supply curve for admissions is

• A)perfectly elastic.
• B)perfectly inelastic.
• C)quite flat.
• D)downward-sloping.

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Definitions:

Income

The money received by an individual or organization, typically on a regular basis, for work or through investments.

Education

Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various methods such as teaching, training, and research.

Age

The length of time that a person or thing has existed, often used as a measure of maturity, experience, or capability.

Hostile Audience

A group of listeners or spectators who are unreceptive, skeptical, or disagreeable towards the speaker's or presenter's message.