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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.
Suppose you have estimated the supply curve for the local labor market as: Qs = W - 5, where W is the hourly wage and Qs is the quantity of workers willing to work at each wage. You have estimated the demand curve for the local labor market as: Qd..
Suppose the U.S. economy is in a recession which came from a negative AD shock. To provide consumers with an incentive to spend more of their disposable incomes, Congress and the President pass a law making it illegal for an individual to hold more ..
A paper detailing explain why the US dollar might be replaced as the nation's reserve currency by the Euro or the IMF's Special Drawing Rights.
Legislative bodies impose price controls to help a part of the economy; who benefits and who is harmed by price ceilings and price floors?
A firm produces according to the following production function: Q=k^.5L^.5 where q= units of output, k= units of capital, and L= units of labor. suppose that in the short run k=100. moreover, wage of labor is w=5 and price of the product is p=10. wha..
Suppose past year's real GDP was $7,000 billion, this year nominal GDP is $8,820 billion, and GDP deflator for this year is 120. Determine the growth rate of real GDP? Does this demonstrate an improvement in economic welfare?
Assume there are 2 goods in the work: apple and raspberry. Say that geoffrey has a utility function for these goods, where r= quantity of raspberry, a =quantity of apple. U = 4r + 3a what is the marginal rate of substitution between the raspberry
Consider a market in which there are N identical buyers who each demand qb = a - P units and thus that market demand is given by Q = N(a - P). Each firm has constant marginal cost equal to c and fixed cost equal to F
Suppose that a firm is a perfectly competitive industry has the following total cost schedule: Compute a marginal cost and average cost schedule for this firm.
Charles pays $120,000 for a single-life annuity that pays him $11,000 a year for life.Treasury Department tables estimate his remaining life to be 15 years.
In Northlandia, there are no labor contracts; that is, wagerates can be renegotiated at any time. But in Southlandia, wagerates are set at the beginning of each odd year and last for twoyears. Why would equal-sized falls in aggregate output
Elastic with respect to its own cost and whether Good Y is a substitute or a complement with respect to Good X.
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