Business, 29.01.2020 05:47, enriquerer12

Before 1991, the eight ivy league colleges (brown, columbia, cornell, dartmouth, harvard, princeton, the university of pennsylvania, and yale), along with mit, shared information and agreed on rules for setting their prices of education (price equals tuition minus scholarship). since 1991, these schools have set their prices in competition with each other. moving from 1991 to today, everything else remaining the same, the ivy league market for education a. became more efficient b. became less efficient c. was equally efficient producer surplus ▼ decreases increases . consumer surplus ▼ decreases increases . deadweight loss ▼ .

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Before 1991, the eight ivy league colleges (brown, columbia, cornell, dartmouth, harvard, princeton,...