Universities a and B Are Substitutes in the Minds of Many

question 32

Multiple Choice

Universities A and B are substitutes in the minds of many college students.Initially the student tuition at each university is the same and far below the equilibrium tuition.Then,the tuition at A is raised and B is not.As a result of a rising tuition at A,some students who would have applied and enrolled in A,apply to B instead.Based on the logic presented in one of the theories discussed in the textbook,we would expect that

• A) instructors at B will begin to be less nearly punctual for office hours than they were previously.
• B) instructors at A will begin to be more nearly punctual for office hours than they were previously.
• C) instructors at B will be more nearly punctual for office hours than they were previously.
• D) a and b
• E) b and c

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Definitions:

Nation's Wealth

The total value of all financial assets and produced assets owned by a country, including natural resources, buildings, and machinery.

Percentage Share

A fraction or portion of a whole, typically denoted as a percentage, representing part of a total quantity or sum.

Quintiles

Statistical values that divide a set of data into five equal parts, so that each part represents 1/5th of the sampled population.

Percentage Shares

Represent the portions or fractions, expressed as a percentage, of a whole divided among entities or allocated for specific purposes.