The nominal price of a college education rose from 15,212 in 1993 to 18,273 in 2002. The CPI was 107.6 in 1985, 144 in 1993, and 205 in 2007. a) What was the real price of a college education in 1993 in 1985 dollars? b) In real terms was college more expensive in 1993 or 1997?

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

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