Services are perishable, which means they cannot be stored or inventoried. What attempts might a university or college make to 'shift' both the supply (when needed during busier times) and the demand (to non-peak times) in order to balance the supply and demand for its services?

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A: The equilibrium is established where the demand and supply are equal.  Pd =PS.

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A:

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Q: Identifying complements and substitutes.

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Q: why is a firm willing and able to increase the quality supplied as the product price increases?

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