Suppose the Preferences of Foreign Students Change, Decreasing Demand for Higher

question 69

Multiple Choice

Suppose the preferences of foreign students change, decreasing demand for higher education in Australia, and at the same time the 'brain drain' continues, with more Australian academics moving overseas. We could predict that the price of higher education for overseas students will__________ and the quantity will__________ .

• A) increase or decrease; increase
• B) decrease; increase
• C) increase; decrease
• D) increase or decrease; decrease

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Definitions:

Incremental Sales

The additional sales generated from a specific marketing campaign, promotional offer, or product launch, distinguishing these sales from the base level of sales.

Required Return

The minimum rate of return an investor expects to receive from an investment, considering the risk involved.

Arbitration

A form of alternative dispute resolution where a neutral third party makes a decision on a dispute outside the court system.