Problem
Colleges and universities compete for students, and students shop for colleges. Is the market for college placements characterized by perfect competition? Does Harvard face a horizontal demand curve or a downward-sloping demand curve? Is the market for college placements characterized by perfect information? Describe how students' information about colleges might be imperfect. Describe how colleges' information about prospective students might be imperfect.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.