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Analyzing Managerial Decision: Rich Manufacturing

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Submitted By sajt38
Words 1584
Pages 7
Setting Tuition and Financial Aid

by
Ronald J. Sanders

HCM-540, MBOL5, Health Care Organization
Instructor: Wenyuan Teng
Saint Leo University
Distance Learning

November 3, 2013

Abstract
A college board in Pennsylvania has increased its tuition and fees to the amount of $23,460; a 17.6 increase from the previous year. An increase of 200 additional students inquired to further their education at the college than the prior year. Most college presidents would attribute this to students believing the college is better if the cost is more. Like other major colleges such as Rice University, University of Richmond and University of Notre Dame, the perception is students of prestigious schools believe costs are related to a better education. To contrast this, 10 years ago, North Carolina Wesleyan College reduced it cost of tuition and fees by 22 percent and watched its number student application fall. Recommendations to resolve the school’s cash flow problems may include the future increase of tuition and fees. This case study deals with the managerial decision of setting tuition and financial. Many factors are associated with demand and price elasticity of demand. There is an economic relationship between demand and price? After reading this paper, student will have a better understanding of those things that may affect tuition and fees for colleges.

Introduction
An individual can demand so many things. The concept of demand can be easily explained. Every person has a demand. The purchasing power of a demand satisfies the want. The amount of product or service that is needed by a person at a given price is the demand of that product or service. The demand of a product has many factors such as income, price, and availability of substitutes and compliments (Brickley, 2009). As displayed in the case study, “Setting Tuition and Financial Aid,” it

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