A Small Private University Normally Charges the Same Price -$200-Per

question 4

Essay

A small private university normally charges the same price -$200-per credit-hour for all courses and for all students.While the university is pretty near capacity in the fall and spring,it finds that its classrooms are only about 60 percent occupied during the summer session.A student of operations management wonders if revenue management might be useful to both the university and its students alike.This student,with help from some economics majors,estimates a demand curve for summer course enrollment.Points on this demand curve include 9000 credit-hours at the current rate of $200,12,000 credit hours at $180,15,000 credit-hours at $160,and 18,000 credit-hours at $140.Based on this demand curve,what price point would best serve the university,if its objective is the greatest revenue for the summer session?

---

Definitions:

Cerebellum

The part of the brain that controls muscular coordination and equilibrium.

Hindbrain

The rear part of the brain that includes the cerebellum and brainstem, involved in regulating basic life functions like heartbeat and breathing.

Brain Parts

Various structures within the brain, each responsible for different functions, such as the cerebrum for thought and action, the cerebellum for movement, and the brainstem for basic life functions.

Basic Life Functions

Fundamental processes necessary for an organism to live, including respiration, nutrition, excretion, and reproduction.