How might the university administrator lure the college, Ask an Expert

Economics

1. Suppose the equilibrium wage for a Division 1 college athlete is $90,000, but because of NCAA rules, the university can only offer him (or her) $45,000 (full tuition, room & board). How might the university administrator lure the college athlete to choose them over others? Would this type of price control (i.e. what the NCAA allows Division 1 college athletes to receive) be considered a price floor, a price ceiling, or neither?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9445730

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