University a Sets Tuition at the Equilibrium Level Based on Price

question 21

Multiple Choice

University A sets tuition at the equilibrium level based on price and then imposes entrance requirements in the form of minimum high school GPA and SAT scores.Enrollment at this school will likely be

• A) at the equilibrium level.
• B) below the equilibrium level because of the use of non-price rationing devices.
• C) above the equilibrium level because of the combination of price and the use of non-price rationing devices.
• D) none of the above

Understand the impact of leadership on organizational structure and culture.

Acknowledge the significant role of chief executive officers in shaping and guiding nonprofit organizations.

Discern the critical factors in the leadership selection process for nonprofit organizations.

Appreciate the dynamics between leadership and the management of day-to-day operations.

---

Definitions:

Vouchers Payable

An accounting term that refers to accounts payable obligations for which vouchers have been created but not yet paid.

Unpaid Voucher File

A file or record keeping system that tracks invoices and vouchers that have not yet been paid by the company.

Sales Discounts

Reductions in the price of goods sold, offered to customers as an incentive to either prompt payment or increase sales volume.

Vouchers Payable

Liabilities or debts owed by a company for purchases made on credit, documented by vouchers.