## <!-- -->To run this page correctly, you need a more modern browser that understands JavaScript.<P><!--Beginning of JavaScript function checkanswer() { //var f=document.question; r=0; w1=0; a1= "I am not sure what you are trying to do. How many would buy an A at each price?"; if (f.A1.value=="1") {w1=1} if (f.A2.value=="1") {w1=w1+1} if (f.A3.value=="1") {w1=w1+1} if (f.A4.value=="2") {w1=w1+1} if (f.A5.value=="4") {w1=w1+1} if (f.A6.value=="1") {w1=w1+1} if (f.A7.value=="1") {w1=w1+1} if (f.A8.value=="2") {w1=w1+1} if (w1>4) a1="You are not thinking about this in the right way. Here is a hint. If a person is willing to pay \$200 for an A, won't that person also be willing to buy one if the price is only \$100?"; if (f.A1.value=="1") {f.A.src=imaged[2].src; r=1;} else {f.A.src=imaged[3].src;} if (f.A2.value=="2") {f.B1.src=imaged[2].src; r=r+1;} else {f.B1.src=imaged[3].src;} if (f.A3.value=="3") {f.B.src=imaged[2].src; r=r+1;} else {f.B.src=imaged[3].src;} if (f.A4.value=="5") {f.C.src=imaged[2].src; r=r+1;} else {f.C.src=imaged[3].src;} if (f.A5.value=="9") {f.D.src=imaged[2].src; r=r+1;} else {f.D.src=imaged[3].src;} if (f.A6.value=="10") {f.E.src=imaged[2].src; r=r+1;} else {f.E.src=imaged[3].src;} if (f.A7.value=="11") {f.F.src=imaged[2].src; r=r+1;} else {f.F.src=imaged[3].src;} if (f.A8.value=="13") {f.G.src=imaged[2].src; r=r+1;} else {f.G.src=imaged[3].src;} if (r==6) a1="You are getting close. Keep trying."; if (r==7) a1="You almost got it. Just fix that one entry."; if (r==8) a1="Very Good! The prices in the question are the maximum prices each would pay, so they would want to buy at all lower prices."; f.comment.value =a1 } //-End of JavaScript- -->

2. A profit-maximizing professor asks her class the maximum they would pay for an A. These are the numbers she gets: \$100, \$50, \$75, \$0, \$200, \$0, \$500, \$50, \$50, \$10, \$25, \$75, \$50. Fill in the table below to show what the demand curve for an A looks like in this class.

 Price Quantity \$500 \$200 \$100 \$75 \$50 \$25 \$10 \$0

3. Discussing the tuition and fees of a college, one of the financial administrators was worried that the institution was close to the "tipping point" in the cost-benefit calculations students and parents made when choosing a college. If there is a "tipping point" for tuition and fees, what does the demand curve for this college look like? Would an economist draw the demand curve this way? Why or why not?