If a college wanted to increase its revenues from tuition payments, should it increase the tuition of day and evening students alike?
What will be an ideal response?
If the demand from each class of students is inelastic, then a tuition increase for each will increase the school's revenue. However, if either class had an elastic demand, then a tuition decrease would be needed to increase revenue.
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The table above gives a nation's investment demand and saving supply schedules. It also has the government's net taxes and expenditures. The government has a budget
A) surplus of $60 billion. B) deficit of $20 billion. C) surplus of $20 billion. D) deficit of $60 billion. E) surplus of $40 billion.
According to the graph shown, area A represents:
These are the cost and revenue curves associated with a monopolistically competitive firm.
A. profits earned in the short and long run.
B. profits earned in the short run.
C. profits earned in the long run.
D. consumer surplus.
Compared to most countries, the United States gets a higher percentage of tax revenue from ______.
a. excise b. sales c. income d. customs
Based on the anchoring effect, a seller has an incentive to plant a relatively ________ number in the buyer's head, and a buyer has an incentive to plant a relatively ________ number in the seller's head.
A. large; large B. large; small C. small; large D. small; small