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Supply 45 TUITION (Thousands o 30 Demand 15 12 16 20 24 NUMBER OF STUDENTS (Thousands) The equilibrium level of tuition at Carleton is $

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Supply 45 TUITION (Thousands o 30 Demand 15 12 16 20 24 NUMBER OF STUDENTS (Thousands) The equilibrium level of tuition at Carleton is $ per academic year. If Carleton sets its tuition at this price, the number of openings available will be the number of student applications. Now suppose that the tuition for Carleton is set at $30,000. At this level of tuition, the number of openings available will be the number of student applications. Suppose that in its latest issue, a popular magazine publishes information about universities in Canada. The magazine declares Carleton to be Canada's worst party university (that is, the university with the lousiest party scene). Adjust the previous graph to show the effect this will have on the market for admission to Carleton, assuming that university students like to party. The new equilibrium level of tuition at Carleton is $ per academic year. If the magazine declares Carleton to be Canada's worst party university and the tuition for Carleton is set at $30,000, Carleton will receive applications for admission than there are openings

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