Homework: Raise or Lower Tuition?
You have been hired by Nobody State University (NSU) as a consultant to help the university with how to increase their total revenue. The university has been struggling in recent years, so they have hired you to help them in their last attempt to find an appropriate solution so that the university can survive.
Raise or Lower Tuition? Suppose that, in an attempt to raise more revenue, Nobody State University increases its tuition.
1) Assess a raise in tuition and if it will necessarily result in more revenue.
2) Describe the conditions under which revenue will (i) rise, (ii) fall, or (iii) remain the same.
3) Explain the process of revenue at NSU, focusing on the relationship between the increased revenue from students enrolling at NSU despite the higher tuition and the lost revenue from possible lower enrollment.
4) If the true price elasticity were (-1.2), discuss what you would suggest the university do to expand revenue.
5) Using what you have learned in this course, explain how you would resolve this problem if you were the President of NSU.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.