S govenment decides to impose a price ceilling on tuition of $20,000 a student T

Question

S govenment decides to impose a price ceilling on tuition of $20,000 a student The market fr colege educatonis Concerned about the poltical fallout trom rising college uition, the U. "more coleges open end dve the ealtrum price of tution to Sis.coo a sident,? O A. a shotage of college education emerges,efficient O B. a shorage of college education emerges; ineticient O C neither a surpkus nor a shortage of college education emerges efcient OD a surplus of college education emerges,efficient OE a sarplus of college education emenges; inefficient Click so select your an 6 alt

Explanation / Answer

Option C

Since the price ceiling is more than equilibrium price, the price ceiling would not be effective and hence the market is efficient

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