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Question $15$

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Consider the university that has two prices for its tuitions. It charges list price $($full tuition$)$ to certain category of students who do not meet the scholarship requirements. Everyone else gets a discount $($scholarship$).$ In terms of perceived gains and losses, the recipient of a scholarship is likely to perceive the discounted price he or she pays for college as:

a$.$ One loss

b$.$ Gain forgone

c$.$ Two losses

d$.$ Loss and gain