Universities a and B Are Substitutes in the Minds of Many

question 2

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 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,instead apply to B. Based on the logic presented in one of the theories discussed in the text,we would expect that

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

Predict the short-term and long-term effects of taxes on supply and demand.

Interpret graphs and tables to understand tax effects on markets.

Calculate the economic consequences of taxes, including tax revenue, deadweight loss, and the distribution of tax burdens.

Understand the concept of tax elasticity and its implications on tax burden sharing.

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Definitions:

Identify Objects

The cognitive process of recognizing and naming items or entities in one's environment.

Touch

The sense by which the structure and condition of objects are perceived when they come into contact with the skin.

Left Hemisphere

The hemisphere of the brain that typically manages tasks involving logic, language, and analytical thinking.

Spatial Tasks

Activities or challenges that require understanding of spatial relationships and the ability to manipulate objects or navigate in space.