y , where Qx is the number of full-time students, Px tuition charged fulltime students per semester, M national income ($ billions), and Py tuition charged full-time students per semester by Oriental Atlantic University in Maryland, Occidental’s closest competitor on the grid iron.

a. Suppose that full-time enrollment at Occidental is 4,000 students.

If M = $7,500 and Py = $6,000, how much tuition is Occidental charging its full-time students?

b. The administration is considering a promotional campaign designed to bolster admissions and tuition revenues. The cost of the campaign will be $750,000. The economics professor believes that the promotional campaign will increase demand to Q P M P x d

x y = 5,100 −