Tution Fee at American Unversty of Sharjah Essay

Tution Fee at Ameri female genitalia Unversty of Sharjah - Essay vitrineWe wanted to understand the change in demand if there is an increase in the fee how many students pull up stakes still have a demand for it and how many students will not join. We also measurable the elasticity of demand. We also wanted to find how the trends were among females and males, were they different or were they pretty often the same or they both were indifferent towards much(prenominal) changes. For this we have done an analytical research for which a questionnaire has been prepared consisting of 6 questions which are as follows 1. Gender 2. Marital status 3. Living with family or away 4. Current instruction fees paid 5. Maximum fee they are willing to pay 6. Do they have scholarship, if yes then how much With this questionnaire we will assess the number of students who will join the college even if the fees increase. With this questionnaire we will be able to separate the demand among males and females and also amongst scholarship students. In the research we have hypothised that a small increase in the tuition fees of the students is not going to touch on the students. This will help the people from the college authorities to understand the carriage of the students to the increase in the tuition fees. One of the main problems we might face is that there might be some errors which we might not be able to restrict. The interviewer might target some of the people whom he knows and not others whom he doesnt know. On the part of the respondent they are affected by factors such as that when they know that they are being interviewed they might give a wrong answer. These things might affect our research but here such factors are assumed to be minimal and the information provided can be relied upon. THEORY AND IMPLICATIONS Demand and Supply analysis The demand and hang on analysis is a justly tool the can be applied to a wide variety of interesting problems. Such as To underst and how changing world economic conditions can affect market price and production or evaluating the impact of government price controls, stripped wages, price control, price support etc. Here we will be using the demand and supply analysis to determine demand and supply changes in chemise the tuition fees changes. Elasticity Of demand It may be defined as the percentage change in quantity demanded to the percentage change in price. EP =% change in quantity / Percentage change in price Consumer Surplus Consumer overplus is defined as the difference between the maximum price a consumer is willing to pay for a product and the price the consumer actually pays for the product. It is denoted by the area enclosed by the demand curve and the actual pay line. Here, consumer surplus can be seen as the number of students who would wish to join the college after a hike in the tuition fee. Producer surplus Producer surplus is defined as the difference between the price at which the producer actually sells the product and the minimum price at which the producer is willing to sell the product. It is denoted by the area enclosed by the supply curve and the actual pay line. The graph showing the number of students okay with fees increase and students who wants a lessen shows the region under consumer surplus and producer surplus. Income effect Income Effect is the change observed in the phthisis of quantity among two products (or group of products) with a change in the income of the consumer. The change is