(Answered) Nearby college has done a study of college enrollments and

Management Studies

Nearby College has done a study of college enrollments and has concluded that the number of students in the fall term is given by

Q = 5000 - 0.6T + .1Y + .2Tc

Where Q = number of students enrolled full-time, T = tuition charged by Nearby, Y = national GDP in billions and Tc = tuition charged by Competition College, a school across town.

a. Determine enrollment if T = $14000, Y = $7500 billion and Tc = $16000. Determine elasticity of demand for Nearby at this tuition rate.

b. The admissions office of Nearby proposes an advertising campaign, designed to convince potential students that it is and underrated educational bargain. The cost of the campaign is set at $4,500,000. Nearby's admission office thinks that this will change demand to Q=7500 =0.5T + 0.15Y +0.2Tc

If the admission office is correct, how many students will enroll next fall?

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M91960067
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Management

What are some of the basic principles underlying the public

What are some of the basic principles underlying the public relations process at an airport? What are the objectives of an airport's public relations department? Why is this such an important function of airport manageme ...

How can companies use product differentiation and the

How can companies use product differentiation and the capacity control to manage rivalry and to increase an industry's profitability.

How do people from varying cultural backgrounds differ in

How do people from varying cultural backgrounds differ in their views of computer ethics? Provide examples and discuss the most effective way to overcome these different views on computer ethics.

A student raises her hand in class and states i can legally

A student raises her hand in class and states, "I can legally copy any DVD I get from Netflix because Netflix purchased the DVD and the copyright only applies to the company who purchased the product." Explain whether th ...

Writeexecute a sql statement that lists all twenty employee

Write/execute a SQL statement that lists all twenty employee Ids, salaries, department ID in which they work, and their department's name. If an employee is not currently assigned to a department, he/she must still be on ...

Think about use of computers and the internet have you ever

Think about use of computers and the Internet. Have you ever had an incident, emergency, crisis, disaster, or catastrophe? If yes, explain what happened? If no, why do you think you were so lucky

In light of the winners curse must winning bidders in

In light of the winner's curse, must winning bidders in auctions necessarily "lose" in the sense of paying more than the acquired firm (or product) is worth? What steps can bidders take to prosper in auctions and/or corp ...

Considering the various components of strategy as they

Considering the various components of strategy as they relate to career development, who are career development strategic managers?

National city financial services corporation information

NATIONAL CITY FINANCIAL SERVICES CORPORATION INFORMATION GOVERNANCE PROGRAM: PHASE I: Please read and familiarize yourself with the general description for your research project included in the CONTENT section of iLearn. ...

Task descriptionthe objective of this reflective essay is

Task Description The objective of this reflective essay is to summarize what you learned from the unit and how you believe your learnings could be applied by you in your future career goals. Sections: Section one: For we ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert