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The demand, as measured by total enrollment, for a private school depends on the tuition fee and can be approximated by q( p )=9,800 -
The demand, as measured by total enrollment, for a private school depends on the tuition fee and can be approximated by q(p)=9,800 - 2p . Suppose that a private school is willing to accommodate q(p) = 3, 200 + 4p students who pay a tuition fee of $ p where 200 p 2,000.
a. Determine the equilibrium tuition fee b. Determine the equilibrium enrolment
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