Question
In: Economics
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.
Solutions
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 agoRelated Solutions
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Year
Period (t)
Enrollment
(1,000s)
2001
1
6.5
2002
2
8.1
2003
3
8.4
2004
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2005
5
12.5
2006
6
13.3
2007
7
13.7
2008
8
17.2
2009
9
18.1
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