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Politicians are often heard saying that tuition at state universities should be kept low "to make education equally accessible to all residentsnts of the state, regardless of income."
Assuming that state funding for the universities is held constant; describe the conditions that will prevail if tuition is held below equilibrium price. Provide one (1) example to support your response.
Will education really be "equally accessible" under these conditions? Provide one (1) example to support your response.
When Alex's income was $3000, he bought 4 bagels and 12 donuts a month. Now hus income is $5000 and he buys 8 bagels and 6 donuts a month. Calculate Alex's income elasticity of demand for a. Bagel b. Donuts
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Consider the game given above. (a) How many histories are in the game? (b) How many sub games are there? (c) How many strategies does player 1 have? Calculate this number. (d) Solve for the sub game perfect equilibrium using backward induction. Indic..
write your own brief definition of the term "ethnocentrism." Then, discuss at least one example or phenomenon in which ethnocentrism plays a part. Finally, describe any situations in which you have experienced ethnocentrism, either negatively or posi..
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Between 1970 and 1976, average inflation rate of Country X was about 35 percent per year. With that rate of inflation, prices would double about every ________ using the rule of 70.
How much do you have to deposit today in order to allow 5 annual withdrawals, beginning at the end of year 8, with the first withdrawal of $1000 with subsequent withdrawals decrease at the rate of 5% over previous year’s withdrawal? The interest rate..
Suppose that the Organization of Petroleum Exporting Countries (OPEC) raises oil prices by 50%. What effect will this have on the U.S. aggregate demand curve? On the U.S. short-run aggregate supply curve?
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