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11 November, 16:07

UIC estimates that the in-state student demand for undergraduate education is Q subscript i n minus s t a t e end subscript equals 10 comma 000 space minus space 2 P, and out-of-state student demand is Q subscript o u t minus o f minus s t a t e end subscript equals 30 comma 000 space minus space P. The total market demand facing UIC will be a:

A. Straight line with a slope of - 1.5

B. Straight line with a slope of - 1.0

C. Kinked line with the kink at Q=5,000

D. Kinked line with the kink at P=5,000

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Answers (1)
  1. 11 November, 17:28
    0
    C. Kinked line with the kink at Q=5,000

    Explanation:

    After plotting graph between P and Q there is kink at Q=5000 and P=25,000
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