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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

What is the relationship between the probability of a person being admitted to the college of his choice and the tuition the college charges?

To determine

The relationship between getting admission in a college and tuition fee.

Explanation

When a college offers a low tuition fee, it would attract a larger number of candidates to join various courses. This would lead to an increase in the demand for the admission in the college. The college also enjoys a larger pool of candidates to choose from. This would lead to a reduction in the probability of a person getting an admission in the college as the number of applicants is so large...

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