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Before 1991, the eight Ivy League colleges (Brown, Columbia, Cornell, Dartmouth, Harvard, Princeton, the University of Pennsylvania, and Yale), along with MIT, shared information and
Before 1991, the eight Ivy League colleges (Brown, Columbia, Cornell, Dartmouth, Harvard, Princeton, the University of Pennsylvania, and Yale), along with MIT, shared information and agreed on rules for setting their prices of education (price equals tuition minus scholarship). Since 1991, these schools have set their prices in competition with each other. What has happened to the efficiency of the market, to the distribution of producer surplus and consumer surplus, and to deadweight loss.Producer surplus _______. Consumer surplus _______. Deadweight loss _______. A. increased; increased; decreased B. decreased; decreased; decreased C. decreased; increased; increased D. decreased; increased; decreased
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