Asked by Syed ali Akber kazmi on May 21, 2024
Verified
An increase in professors' salaries increases the supply of college education.
Professors' Salaries
The remuneration paid to academic teaching staff, which may vary based on rank, experience, and the type of institution.
- Examine how variations in consumer income affect the demand for products.
- Acquire knowledge on the essential aspects of supply and demand forces, including the impact of external elements on the movement of curves.
Verified Answer
MG
Mehak GuptaMay 23, 2024
Final Answer :
False
Explanation :
An increase in professors' salaries is likely to lead to an increase in the cost of education, which in turn could lead to a decrease in the demand for college education. This could ultimately decrease the supply of college education.
Learning Objectives
- Examine how variations in consumer income affect the demand for products.
- Acquire knowledge on the essential aspects of supply and demand forces, including the impact of external elements on the movement of curves.
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