Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can I please get help with this ? Thank you. Most (but not all) universities are -not-for-profit' firms. What is it that such firms are

Can I please get help with this ? Thank you.

image text in transcribed
Most (but not all) universities are -not-for-profit' firms. What is it that such firms are maximizing? How do non-profits choose quantity and price? We know that profit maximization leads to a situation where MC=MR for the last unit produced; this implies that the value of the resources needed to produce the good are equal to the extra amount that consumers are willing to pay for the good. This has important implications for economic efficiency and non-profits are thus less likely to be efficient producers. Why is production less efficient? and why do we allow production to be organized in this way? Finally, why is tuition nation-wide rising faster than inflation if universities are non-profit firms? (NOTE THIS IS NOT TO BE TAKEN AS AN OPPORTUNITY TO COMPLAIN ABOUT THE COST OF GOING TO SCHOOL!) (There are at least 4 questions here..i've highlighted them in different colors to help you see what i'm asking)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Payroll Accounting

Authors: Bernard J Bieg, Judith A Toland

29th Edition

1337673196, 9781337673198

More Books

Students also viewed these Accounting questions

Question

describe why abnormal work hours can constitute a health risk;

Answered: 1 week ago

Question

The background knowledge of the interpreter

Answered: 1 week ago

Question

How easy the information is to remember

Answered: 1 week ago