These next questions are discussion questions for thought- not exactly right or wrong answers but defend your thoughts using concepts that we have discussed. 60. This situation might be thought of a rough approximation of higher ed in the US. We don't have monopolies but there are few sellers relative to buyers. (Ignoring for-profit schools). 61. You should find that in the situation above the college earns profits, yet privates like Harvard or Publics like UA can't earn profit. How might they charge above MC without accumulating profits? 62