When universities charge students less than the equilibrium tuition for admission, they have to impose some nonprice-rationing device. Group of answer choices True False

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Business

Saniya

17 August, 04:57

When universities charge students less than the equilibrium tuition for admission, they have to impose some nonprice-rationing device. Group of answer choices True False

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Answers (1)

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Mariela Gilmore · Answer 1

True

Explanation:

Nonprice-rationing device is the things that an organization do in order to control who will obtain their limited product beside increasing or reducing the price of their product.

When the cost of university fees is less than equilibrium, there would be more applicants who will apply for the position.

Because of this, the university need to implement some sort of method to control which applicants will get in and which applicants will not. For example, they can use test scores or interviews to eliminate their applicants.