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Microeconomics - Essay Example

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To survive financially, NSU must consider the idea of raising its revenue. Raising tuition at some point may or may not necessarily raise the revenue of NSU for some reasons. There…
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Microeconomics
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Microeconomics

Download file to see previous pages... Obviously, from the economic point of view, the higher the quantity and then the higher the price associated with each, the higher the revenue. This makes sense, because increasing the pricing for the linked quantity can remarkably improve revenue growth. On the other hand, this is not the usual case in the real world. There is also a case by which the revenue will fall, after increasing the price.
If on the other hand, the students are not willing to pay for an increase tuition fee at NSU, they may also consider the possibility of going to an alternative University with at least lower or affordable tuition fees. This means that increasing the tuition at NSU will definitely decrease the number of enrolees in the semester. This leads to the possibility of lower revenue even if the tuition is set a bit higher this time. If the number of enrolees significantly dropped down until to the point that the revenue is highly affected, then increasing the tuition is not going to be a good idea.
The revenue will remain the same, provided that there are students who still enrol at the NSU, and others considering the other universities. If at some point, the number of students who enrolled at NSU will be at least lower from the previous, but when the amount of tuition increase will still compensate the amount of revenue at the past, then this is the case that the NSU will most likely to have the same revenue, but then the number of students must have been significantly reduced at some point.
If students are still enrolling at NSU despite higher tuition, the university must have significant assets that the students cannot just simply eliminate. The university might have sound and standard quality of education or excellent service performance that the students will now be hesitant to change their university. In other words, they cannot find substitute that might be as excellent as ...Download file to see next pagesRead More
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