A Public University Knows That Demand from Potential Students Is

question 66

Multiple Choice

A public university knows that demand from potential students is elastic.If the university wants to increase tuition revenue,it should

• A)raise its tuition rate
• B)hold its tuition rate constant and increase faculty salaries
• C)increase its financial aid
• D)lower its tuition rate
• E)increase its enrollment

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Definitions:

Budgeted Cost

An estimate of all financial resources allocated for specific activities or the entire project.

Earned Value

A project management metric that measures project performance by comparing the work performed's value to the planned value and actual cost.

Actual Cost

The total expense incurred for a project, activity, or item, reflecting the real financial expenditure.

Cost Variance

The difference between the budgeted or estimated cost of a project and the actual cost incurred.