Question

If the tuition is set at $60 there will be a. a shortage at 10 a.m. and a surplus at 8 a.m. b. a surplus at 10 a.m. and a shortage at 8 a.m. c. equilibrium at both 10 a.m. and 8 a.m. because the price is half-way between their individual equilibria. d. none of the above

Answer 1

If the tuition is set at $60 there will be

a. a shortage at 10 a.m. and a surplus at 8 a.m.

b. a surplus at 10 a.m. and a shortage at 8 a.m.

c. equilibrium at both 10 a.m. and 8 a.m. because the price is half-way between their individual equilibria.

d. none of the above

Step-by-step explanation:

If the tuition is set at $60 there will be

a. A shortage at 10 a.m. and a surplus at 8 a.m.