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(Businessweek) — The two-year boom in business school applications that accompanied the deteriorating economy appears to be over, with 12 top U.S. MBA programs now reporting that 2010 applications are flat or down compared with 2009, including the University of Pennsylvania’s Wharton School(Wharton Full-Time MBA Profile) in Philadelphia and the Haas School of Business (Haas Full-Time MBA Profile) at the University of California at Berkeley.

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