Reference no: EM13933867
As a policy analyst you have been asked to calculate the elasticity of demand for university courses. Questions 1 to 4 are based on the assumption that the universities that increased their fees by 30% experienced an overall decrease in student applications of 3%.
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?
Questions 5 to 8 are based on the assumption that the 30% fee increase at the universities that increased fees caused an overall increase in student applications of 8% at those universities that did not increase their fees.
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 fee changes? Based on your economic analysis of the above issue, prepare a 1,200 word report using the following structure:
- Purpose
- Method
- Results
- Discussion
- Recommendations
|
An industrial hygienist for a major pharmaceutical company
: Essay You are an industrial hygienist for a major pharmaceutical company. The CEO has contacted you regarding a new product line that will be produced in your facility. The new product involves the handling and use of an engineered nanomaterial.
|
|
Discuss your decision-making criteria for selecting
: Disney-Product Select Write a 2500 word paper. In your paper, be sure to follow these steps: Discuss the supply chain needs of both products you researched in Week Two. Analyze the pros and cons of each product in comparison to each other. Discuss yo..
|
|
Relevant models and theoretical perspectives
: Consider using relevant models and theoretical perspectives to make your analysis. For example, you might find that one successful organisation has executed its marketing strategy by applying Ansoff's Matrix in a disciplined manner, whereas anothe..
|
|
Case study sunset grill at blue
: Case Study Sunset Grill at Blue Read the attached case and answer the below questions; 1. What is Sunset Grille's service concept? Evaluate their sustainability.
|
|
Increasing fees elastic or inelastic
: 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?
|
|
Record the payment of the merchandise in requirement c
: Record the payment of the merchandise in Requirement c in a horizontal statements model like the one shown above.
|
|
Probabilistic analysis of hash functions
: Probabilistic Analysis of Hash Functions - In this assignment, you will write and evaluate 5 different hash functions with whose input keys are names. Your evaluation should be based on popular American first names
|
|
Historical significance of the source
: This is the key part of assignment. Explain the historical significance of the source. How does the source aid in the understanding of the time period. How does it compliment the textbooks coverage of the event, person, or place? Do not report ver..
|
|
How natural environment has affected or influenced health
: Describe your own restorative environment(s). Based on what you have learned what factors contribute to the environment being restorative to you?"
|