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Author Question: If a college wanted to increase its revenues from tuition payments, should it increase the tuition ... (Read 304 times)

mspears3

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on: Jun 29, 2018
If a college wanted to increase its revenues from tuition payments, should it increase the tuition of day and evening students alike?
 
  What will be an ideal response?

Question 2

In the figure above, if an excise tax is imposed that generates an efficient allocation of resources, then the amount of output will be
 
  A) zero.
  B) 50 units.
  C) 150 units.
  D) 250 units.


mjenn52

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Reply #1 on: Jun 29, 2018
Answer to Question 1

If the demand from each class of students is inelastic, then a tuition increase for each will increase the school's revenue. However, if either class had an elastic demand, then a tuition decrease would be needed to increase revenue.

Answer to Question 2

C


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