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Big State X charges in-state and out of state students different tuition rates. In-state students pay $2,000 a term and respond according to the following demand equation:Qi=25,000-3TiWhere Qi is in-state student enrollment and Ti is is in-state tuition. Out of state students pay $4,500 a term and there demand is:Qo=45,000-8ToWhere Qo is out of state enrollment and To is out of state tuition.
a.) Calculate the number of each type of student which will enroll and the total enrollment at Big State. Calculate the price elasticity for each type of student.
b.) Assume teh marginal cost for students is $3,000 per student. Is Big State charging an optimal tuition rate for instate students? Explain.
c.) Assume the school wishes to institute these tuition changes. What might be the response of students? What about state taxpayers?
Suspose kate is an avid reader and buys only comic books. Kate deposits 2000 in a bank that pays an annual interest rate of 20%. At the time of her deposit a comic book cost $10.00. Intially, the purchasing power of kates $2,000 deposit.
Mapleville Tennis & Golf Club offers golf and tennis memberships to the residents of Mapleville. Market research has found there are two types of families living in the city: 120 golf-oriented families and 100 tennis-oriented families.
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Analyze the current status on foreign exchange rate, producer price index including descriptions of current status and graphs with APA guidelines.
you are a division manager at toyota. If your marketing department estimates that the semiannual demand for the highlander is Q=100000-1.25P, what price should you charge in order to maximize revenues from sales of the highlander
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Baby boomers can save up to $22,000 per year in a 401k account. If Eileen's starting balance at age 50 is $200,000 and she saves the full amount available to her, how much money will she have saved when she is 65 years old (after 15 years of savin..
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Rubinland is a small island economy that has no taxes, no transfer payments, no government purchases, no exports, and no imports. Rubinland's economy is represented by the following equations: C = 5,000 + 0.6Y I = 5,000 where C represents consumpti..
The World of Videos operates a retail store that rents move videos. For each of the last 10 years, World of Videos has consistently earned profits exceeding $25,000 per year. The store is located on prime real estate in a college town. World of Vi..
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