Reference no: EM13933693
As a policy analyst you have been asked to calculate the elasticity of demand for university courses.
1. What is the price elasticity of demand for courses at the universities that increased their fees by 30%?
2. Is demand for these courses elastic or inelastic?
3. What factors do you think are responsible for this degree of elasticity?
4. Is tuition fee revenue likely to increase or decrease at these particular universities?
5. What is the cross-elasticity of demand for courses at universities that did not increase their fees with respect to the price of courses at universities that did increase their fees?
6. Are courses at different universities substitutes or complements?
7. Is demand for courses at the universities that did not increase their fees elastic or inelastic with respect to universities that did increase their fees? What is the importance of this degree of elasticity?
8. Finally what are some of the factors that might cause the Minister for Education to argue that changes in demand for course are not necessarily related to the fees change?
Based on your economic analysis of the above issue, prepare a 1200 word report using the following structure
· Purpose
· Method
· Results
· Discussion
· Recommendation
|
Relevant case and statute law
: Discuss the extent to which, and the ways in which, the courts and parliament have eroded the concept of 'freedom of contract' with reference to relevant case and statute law
|
|
What is the operating cash flow for the project in year
: You are evaluating a project for The Tiff-any golf club, guaranteed to correct that nasty slice. You estimate the sales price of The Tiff-any to be $420 per unit and sales volume to be 1,200 units in year 1; 1,325 units in year 2; and 1,000 units in ..
|
|
Develop your skills to contribute to the body of knowledge
: There are two components to the individual assessment. The first component is to write either a briefing paper (for the board and senior management), a blog or a journal article. The second component is to anonymously review at least two individua..
|
|
About the shares of common stock outstanding
: Dinklage Corp. has 10 million shares of common stock outstanding. The current share price is $82, and the book value per share is $5. The company also has two bond issues outstanding. Suppose the most recent dividend was $5.40 and the dividend growth..
|
|
What is the cross-elasticity of demand
: What is the cross-elasticity of demand for courses at universities that did not increase their fees with respect to the price of courses at universities that did increase their fees?
|
|
Analyse package using principles of contract law
: 1. Identify the key information about the holiday as set out in brochure. 2. Critically analyse the package using the principles of contract law found in case law and categorise the statements into representations, terms, conditions and warranties.
|
|
What is the investment proportion
: Assume that you manage a risky portfolio which consists of Stock A and Stock B in the proportions listed below. Expected Return with an expected rate of return of these stocks are also listed in the table. The T-bill rate is 5%. What is the expected ..
|
|
Descriptive analysis of the two variables
: Provide a descriptive analysis of the two variables (e.g., mean, standard deviation, minimum and maximum).
|
|
Is there negative consequences for an individual
: Given the fact that adolescents are primarily working to emerge as individuals, in what ways might an older relative or concerned adult approach a younger adult to be encouraging and helpful, and have the young adult be receptive?
|