Refer to Exhibit 5-3 which shows the demand and supply of a college athlete. Suppose that NCAA rules limit the amount that the college can pay this athlete, such that their payment can not exceed the cost of attending the college (currently $8,000). The impact of this ruling would be a loss of income to the athlete of and an equal gain in consumersā surplus to the college represented by . Group of answer choices $2,000; area 2
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Refer to Exhibit 5-3 which shows the demand and supply of a college athlete. Suppose that NCAA rules...
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