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Raise or Lower Tuition - Assignment Example

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There is a major misunderstanding among people that increase the price will always result in higher sales or higher revenues for the organization. However, it should be noted that an increase in tuition fees will not always result in more revenue. This is explained by the theory of price elasticity which explains the relationship between quantity demanded and price. Therefore, an increase in tuition would not necessarily result in more revenue. A raise in college tuition should be accompanied by a number of other factors, for it to result in more revenue. 2. Describe the conditions under which revenue will (a) rise, (b) fall, or (c) remain the same. In terms of college tuition, if changes in price result in large changes in student enrollments then college tuition is said to be elastic. In such a case, increasing tuition would not always result in more revenue. However, if tuition for this particular college is inelastic then, it can result in higher revenue as quantity demanded would not be affected much. The elasticities of different products and services depend on a number of factors including other competing colleges in town, the programs offered by the university, the target market of students, reputation of the university, locally as well as internationally. (a). If the tuition for Nobody State University is price inelastic, then an increase in price (tuition) would not have a large affect on the student enrollments. Therefore, an increase in tuition, in this case, would result in

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a rise in revenue for the university. (b). If the tuition for Nobody State University is price elastic, then an increase in tuition fees would lower student enrollments. Therefore, this would result in a fall in revenue for the university. (c). The overall revenue for the University would remain the same if the change in tuition is exactly equal to the resulting change in student enrollments. This is known as unit price elasticity of demand. 3. 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. The process of revenue at NSU depends on its relative elasticity of demand. If the decision undertaken is to increase tuition and if the demand for college education is price inelasti
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Name: Subject: Topic: Date: 1. Assess a raise in tuition and if it will necessarily result in more revenue. Academic policy makers have been trying to devise strategies to increase financial revenue for universities without having a huge effect on student enrollment…
Raise or Lower Tuition
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gwendolyn60 added comment 2 months ago
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I had an issue with a assignment types of works. All until I came across this website and this particular essay. Even though "Raise or Lower Tuition?" is far from my studies, the structure is so great that I use it all the time as an example for my own works.
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