Many Universities Practice Yield Management to Maximise the Revenue They

question 269

Multiple Choice

Many universities practice yield management to maximise the revenue they receive from tuition and

• A) to maximise the amount of aid they receive from the federal government.
• B) to maximise the amount of their student loans.
• C) to maximise the size of their endowments.
• D) to increase the academic quality of the students who enroll in their schools.

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Definitions:

Price of X

The price of X refers to the cost to buyers of acquiring a unit of good or service X in the market.

Price of Y

the cost associated with acquiring or purchasing a specific good or service, denoted symbolically as "Y".

Wage Rate

The amount of money paid to an employee per unit of time, often per hour or year.

Labor Supply

The total number of hours that workers are willing and able to work at a given wage rate.