1. Suppose that many US universities rely on international graduate students as a primary revenue source....

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1. Suppose that many US universities rely on international graduate students as a primary revenue source. Suppose further that something happens which causes the number of student visas issued by the US government to fall dramatically. How does this change supply and demand for graduate education in the short-run? What long-run changes would occur if the number of visas granted remained low? Draw pictures of the short-run and long-run changes to supply and demand. 1. Suppose that many US universities rely on international graduate students as a primary revenue source. Suppose further that something happens which causes the number of student visas issued by the US government to fall dramatically. How does this change supply and demand for graduate education in the short-run? What long-run changes would occur if the number of visas granted remained low? Draw pictures of the short-run and long-run changes to supply and demand.

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In the short run 1 Decrease in student visas issued will lead to a decrease in the number of interna... View the full answer