The Gap Between the Higher Equilibrium Tuition and Lower Student

question 8

Multiple Choice

The gap between the higher equilibrium tuition and lower student tuition is $4,000 at university A and $10,000 at university B. It follows that

• A) if the supply of openings at each university is the same, then the demand to attend university B is higher than the demand to attend university A.
• B) the supply of openings is necessarily larger at university A than B.
• C) instructors at university B are likely to be more punctual when meeting their office hours than instructors at university A.
• D) a and c
• E) none of the above

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Definitions:

White-Collar Crime

A crime that typically occurs in a business context. Popularly used to refer to an illegal act or series of acts committed by a person or business entity using nonviolent means.

Property Crime

Offenses that involve the unauthorized taking of or damage to another's property.

Robbery

The taking of money, personal property, or any other article of value from a person by means of force or fear.

Larceny

The wrongful or fraudulent taking and carrying away of another person’s personal property with the intent to deprive the person permanently of the property.