"Price discrimination" in the form of tuition scholarships
What will be an ideal response?
increases the number of students who are able to attend privately owned colleges.
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Refer to the above figure. The top two arrows of the figure refer to the product markets. The bottom arrows refer to the factor markets. Which arrow represents factor services?
A) Arrow A B) Arrow B C) Arrow C D) Arrow D
In order to be effective, a price floor
A) must be set below equilibrium price. B) must be set above equilibrium price. C) must be set at equilibrium price. D) must be a zero price.
A firm that faces a downward sloping demand curve is known as a
A) price taker. B) utility maximizer. C) price searcher. D) perfect competitor.
Which is not one of the Four Fundamental Questions?
A. How will goods and services be produced? B. Who is to receive the output of the system? C. How should the system promote progress? D. What goods and services should be produced by government?