Business, 26.03.2020 01:56 majakvcvc77

Suppose that the equilibrium tuition at College X is $2,000 a semester and the tuition that students are charged is $1,000 a semester. At $1,000 tuition a semester, a. quantity demanded of openings at the college is greater than quantity supplied. b. quantity supplied of openings at the college is greater than quantity demanded. c. quantity supplied of openings at the college equals quantity demanded. d. quantity supplied of openings equals demand. e. none of the above

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Answer from: MadisonElle

A. Quantity demanded of openings at the college is greater than the quantity supplied

Explanation:

The equilibrium price is the price at which the quantity demanded for a particular good or service is equal to the quantity supplied.

(Please refer diagram)

A tuition charge of $1000 is less than the equilibrium quantity. At this point, supply is lower than demand because suppliers are discouraged to produce at this price level but consumers are encouraged since they are getting a low price. This creates a shortage of openings at the college between Qs - Qd (highlighted area in the diagram). In the long run however, the shortage will push prices up until it reaches the equilibrium point, unless there is legally imposed price ceiling that prevents the price from rising any higher.

Suppose that the equilibrium tuition at College X is $2,000 a semester and the tuition that students

Answer from: Quest

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

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Suppose that the equilibrium tuition at College X is $2,000 a semester and the tuition that students...

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