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Over the last 30 years in the United States, the real price of a college education (i.e., after adjusting for inflation) has increased by almost 70 percent. Over the same period, an increasing number of high school graduates have sought a college education. (Nationwide college enrollments almost doubled over this period.) While faculty salaries have barely kept pace with inflation, administrative staffing (and expenditures) and capital costs have increased significantly. In addition, government support to universities (particularly research funding) has been cut.
A. College enrollments increased at the same time that average tuition rose dramatically. Does this contradict the law of downward-sloping demand? Explain briefly.
B. Use supply and demand curves (or shifts therein) to explain the dramatic rise in the price of a college education.
Industries used to make capacity, production, inventory and staffing decisions based on long-range forecasts.
Illustrate what do you see are the economic pros and cons of the North America countries including Canada and Mexico get from adopting a common currency.
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maria and emmanuel need to cut logs for shelter or gather food to stay alive per day. maria produces 10 cut logs of shelter and 10 baskets of food. emmanuel produces 5 cut logs of shelter and 8 baskets of food.a) what is the opportunity cost for ma..
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