Use the graph to help you answer the questions that follow

Last updated: 1/20/2024

Use the graph to help you answer the questions that follow You will not be graded on any adjustments made to the graph Tool tip Click and drag one or both of the curves Curves will snap into position so if you try to move a curve and it snaps back to its original position just try again and drag it a little farther J TUITION Thousands of dollars 15 Admission to New York University Supply bemand 12 18 NUMBER OF STUDENTS Thousand 20 The equilibrium level of tuition at NYU is 24 Demand 101 Supply C per academic year If NYU sets its tuition at this price the number of student applications the number of openings available Now suppose that the tuition for NYU is set at 30 000 by New York s state assembly At this level of tuition the number of student applications the number of openings available wit Suppose that in its latest issue a popular magazine publishes information about colleges in the United States The magazine declares NYU to be America s best college Adjust the previous graph to show the effect this will have on the market for admission to NYU The new equilibrium level of tuition at NYU is per academic year it the majapine declares NrU to be America s best college and the tuition for Nu is set at 30 000 by New York s assembly NYU will smission than there are coenings C