Before 1991, the eight ivy league colleges (brown, columbia, cornell, dartmouth, harvard, princeton, the university of pennsylvania, and yale), along with mit, shared information and agreed on rules for setting their prices of education (price equals tuition minus scholarship). since 1991, these schools have set their prices in competition with each other. moving from 1991 to today, everything else remaining the same, the ivy league market for education a. became more efficient b. became less efficient c. was equally efficient producer surplus ▼ decreases increases . consumer surplus ▼ decreases increases . deadweight loss ▼ .

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks