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Question 4) Suppose the supply of UCLSA enrollment is limited to 1,000 students every year at a tuition of $5000 a semester.
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Answer #1

Potential quantity= 1000 students at tuition fee of $5000 .

As tuition fee lowers to $4500 , quantity demanded increases to 7500.

Potential shortage gap = (7500-1000)= 6500

This is shown in the below graph :

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