Most colleges and universities publish a single tuition figure, often right on their Web site. Yet,...

Most colleges and universities publish a single tuition figure, often right on their Web site. Yet, it’s claimed that colleges and universities are masters of first-degree price discrimination.

a. Explain how, in the real world, colleges and uni- versities charge different students different prices for access to the same good.

Expert Solution

A.

In first degree price discrimination, the seller charges different prices to the consumers that are equal to their willingness to pay. Colleges and universities do it in different ways. The first way is to award scholarships to the students on the basis of their income, educational background and the geographical region. It makes their different prices to have a legal cover that one course is being sold at different prices. The second way is to keep a few seats reserved for students from economically weaker section, minorities and poor societies. These students pay as per their paying capacities and colleges and universities show it as diversity drive, or a type of affirmative action to spread education or contribution towards community development. The third way is setting up different quotas such as management or director's quota where the different prices are being charged for the same course. It makes these institutions to make first degree price discrimination.

Rahul Sunny answered 1 year ago

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Most colleges and universities publish a single tuition figure, often right on their Web site. Yet,...

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