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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. Assess a raise in tuition and if it will necessarily result in more revenue.
Describe the conditions under which revenue will
(a) rise,
(b) fall, or
(c) remain the same. 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. If the true price elasticity were (-1.2), discuss what you would suggest the university do to expand revenue. Using what you have learned in this course, explain how you would resolve this problem if you were the President of NSU.
When economists with different political views do cost or profit comparisons, they often reach different decisions. If their analysis is based on objective costs and valid techniques, why would not they reach similar decisions,
The United State is currently running an $800 Billion trade deficit. Is this bad for the economy? Suggestion: use the GDP computation, GDP= C + G+ Ig + Xn.
Illustrate what do each of the following seek if they pursue their own self interest: consumers, resource owners, and business firms.
Illustrtae the marginal product of labor.
Assume her estimated selling price is lower than originally projected. How much revenue would she need in order to earn a positive accounting profits.
Currently, the extent of our economic difficulties has caused the economic policymakers to choose fiscal and monetary policies that are both expansionary.
Assume that the economy starts in steady state. According to the Solow growth model, how would each of the following affect consumption per worker in the long run, Explain?
Illustrate what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources.
Elucidate how globalization affects the gross domestic product (GDP). Explain your thoughts on globalization in your own words.
Describe what degree of concentration it exhibits. Would it be considered an oligopoly.
Assume that MPC is 0.8, while the sum of planned investment, government purchases, and net exports is $500 billion. Assume also that the government budget is in balance.
Explain how it affects industry's margins forcing them to push up their product sale price etc.
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