Problem
Suppose that, in an attempt to raise more revenue, Nowhere State University (NSU) increases its tuition. Will this necessarily result in more revenue? Under what conditions will revenue (a) rise, (b) fall, or (c) remain the same? Explain this, focusing on the relationship between the increased revenue from students who enroll at NSU despite the higher tuition and the lost revenue from lower enrollment. If the true price elasticity were - 1.2, what would you suggest the university do to expand revenue?\
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.