University charges only one price for credit hours

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A university's students have demand for credit hours given by q=30 - 0.04p, where p is the price per credit hour.

a. If the university charges only one price for credit hours irrespective of the number of credit hours a student enrolls for, identify the price per credit hour that would maximize revenue for the university.

b. If the university adopts a two tier pricing structure, identify the structure that would maximize revenue for the university.

Reference no: EM131098740

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