Chapter 04: Aplia Homework: Bringing Supply and Demand Together
75
8
8
TUITION (Thousands of dollars)
...
R
15
Admission to Carleton University
4
Supply
a
12
16
NUMBER OF STUDENTS (Thousands)
Demand
The equilibrium level of tuition at Carleton is p
available will be
20
24
Demand
the number of student applications.
Supply
per academic year. If Carleton sets its tuition at this price, the number of openings
Now suppose that the tuition for Carleton is set at $30,000. At this level of tuition, the number of openings available will be
number of student applications.
TO…