User Account

All Pages

Supply and demand for enrollment

Assignment Help Biology
Reference no: EM131850848

Suppose we live in a small island country that has just one higher education institution: a private university. The supply and demand for enrollment in this market are given by the equations:

P = 9000 - 3QD

P = 1000 + QS

a. Suppose this market is initially in equilibrium at a price of $3000 and a quantity of 2000 students. The government decides they want more people to get educated, so they set a price ceiling on tuition at $2400. Find the market outcome (using the equations), explain it briefly in words, and sketch a graph of the situation.

b. Suppose the price ceiling is put in place and the market outcome found in part a occurs. If we decided to start our own black market college on the island to avoid this price control, what price would we initially be able to charge? (Note: for the sake of this example, assume the quality of education and value of a degree from our sketchy college will be equivalent to that of the private university).

Reference no: EM131850848

Questions Cloud

How to define net exports and net capital outflow : How to define net exports and net capital outflow? What is it and its purpose, how is it used. Explain the relationship among saving, investment
What should ted have done when elizabeth first joined team : To what stage in its life cycle does the assembly team seem to have regressed? Is the trouble Elizabeth Jennings' fault? If not, then whose fault is that?
Analyze the business-level strategies for the corporation : Analyze the business-level strategies for the corporation you chose to determine the business-level strategy you think is most important to the long-term.
Effect of the ad-valorem tax on the equilibrium price : Suppose an ad-valorem sales tax of v is levied on the producers. Find the effect of the ad-valorem tax on the equilibrium price.
Supply and demand for enrollment : The supply and demand for enrollment in this market are given by the equations:
Bargaining between firms and unions : Wages are set in many ways. Sometimes they are set by collective bargaining, that is, bargaining between firms and unions. In the United States
Absolute advantage and comparative advantage : What is the difference between absolute advantage and comparative advantage? How can a less developed country like Mexico
Given the extreme shortages for organ transplants : Given the extreme shortages for organ transplants, should there be a market for human organs?
Identify any linkages between factors : What factors played a role in contributing to the debt crisis and assess whether they are (a) minor factors (b) medium factors or (c) major factors.

Reviews

Write a Review

Biology Questions & Answers

  Immune response to infectious disease

It is a very curcial concept to understand how the immune response is mounted against viruses, bacteria, protozoans and helminthes. For an effective immune response, both innate and adaptive immunity should work together.

  A review on advanced glycated end products (ages)

This Project report elaborates a critical review of important elements attached to Advanced Glycated End Products (AGEs). It is very crucial to understand the process called Millard reaction.

  Plastic as a soil stabilizer

Soil stabilization is the permanent physical and chemical alteration of soils to enhance their physical properties. Stabilization can increase the shear strength of a soil and control the shrink-swell properties.

  Principles of microbiology

This assignment has three parts which contains questions related to Microbiology. It contains basic principles of microscopy, staining techniques in microbiology and microbial growth in the food industry.

  List the biologic functions

Lipid metabolites are often seen as key elements in cellular signaling. Is this unique? Please provide several examples of the function of lipids as key elements in signal arrays and list the biologic functions these signals affect?

  Biologic function relationships

Please describe how one might search for chemical structure, biologic function relationships, involving small molecular weight lipophylic compounds. Provide one example.

  Case study on patient in the haematology laboratory

Write a case study which detailing a scenario of a patient being investigated in the Haematology laboratory.

  Use of pcr and genetic approaches in biotechnology

The use of PCR and genetic approaches in biotechnology

  Describe the role of this enzyme in honey

Glucose oxidase is an enzyme that can be used for measurements of glucose levels by combining this reaction with an oxygen probe.

  Genetic problems

What phenotypic ratio would you get if you crossed a white mouse and a heterozygous brown mouse?

  Prepare an essay on nosocomial infection

Prepare an essay on nosocomial infection.

  Monitoring and recording the blood pressure

To increase the awareness of monitoring and recording the blood pressure of patients and practice measuring blood pressure in a safe environment.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd