Ask Question
BusinessBusiness
14 February, 11:49

Hundreds of colleges serve millions of students each year. The colleges vary by location, size, cost, and educational quality, which allows students to match schools to their diverse preferences.

+3
Answers (2)
  1. 14 February, 13:31
    0
    The market model here is a perfect competition competition among colleges.

    Explanation:

    Perfect competition market, or atomistic market, is a situation in which all elements of monopoly are absent and market price of a commodity is beyond the control of individual buyers and sellers. The colleges are in a perfect market because each student has individual preferences to decide on which college to seek admission.

    All colleges give millions of students equal opportunities for a good quality education, and have a lot of programmes and activities to ensure proper and adequate personal development for each student.

    Since the decision of an individual student to select preferred college can not be influenced directly by any of the colleges, then the market condition among them is a perfect market.
  2. 14 February, 14:34
    0
    But they have not an identical product

    Explanation:

    Every college has its own form of teaching, and is stablished by the platform and literature of each college
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Hundreds of colleges serve millions of students each year. The colleges vary by location, size, cost, and educational quality, which allows ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
A recently installed machine earns the company revenue at a continuous rate of
Answers (1)
Examine the method that fnb (first national bank) can use to compete with other banks in south Africa
Answers (1)
On February 14, Watauga Enterprises received notice from the bank of a dishonored check from Wilkes Company in the amount of $200.00. The bank charged a service fee of $25.00.
Answers (1)
We would not expect a Japanese financial asset and a U. S. financial asset with identical risk, liquidity, and information characteristics to have different expected returns because A.
Answers (2)
Information from the records of the Conundrum Company for September 2018 was as follows: Sales $307,500 Selling and administrative expenses 52,500 Direct materials used 66,000 Direct labor 75,000 Variable factory overhead 50,000 Factory overhead
Answers (1)
New Questions in Business
Explain what is meant by market research.
Answers (1)
Jean, a restaurant critic, publishes a review in a national daily that the sandwiches served at his friend's deli are usually not fresh. Tom, the owner of the deli, notices a significant decrease in customers after the review gets published.
Answers (1)
Why did the Soviet Union experience many surpluses and shortfalls? A) The labor force wasn't well educated B) The cold climate made farming hard C) Central planners could not manage every detail D) The country depended on imports to obtain resources.
Answers (1)
A hospitality operation has sales revenue of $462,000 with variable cost averaging 44%. Fixed costs are $188,000. The owner wants a net income after tax of $50,400 based on a tax rate of 28%. a.
Answers (1)
True or false fdr was eager to use deficit spending to end the economic crisis.
Answers (1)
Home » Business » Hundreds of colleges serve millions of students each year. The colleges vary by location, size, cost, and educational quality, which allows students to match schools to their diverse preferences.
Sign Up Forgot Password?