Q 4: Answer the questions below using the following Table (and Figures if needed):c) As Vice-Chancellor, should you consolidate or expand the programs. Provide your advice using the information in the tabled) What is the effect of the introduction of a license fee of 9 million dollars by the government for undergraduate programs being offered by universities on the zero-profit curve for these programs? Use relevant plots in your answer Undergraduate students:£9,000Total Cost Functions for UndergraduateStudents£8,000£7,000£120,000,000£6,000f100,000,000£5,000MC£80,000,000£4,000FAC£60,000,000£3,000£40,000,000£2,000£20,000,000£1,000£0£02,7505,5008,25011,00013,75016,5005,00010,00015,00020,000TCGraduate students:Total Cost Functions for Graduate Students£14,000£30,000,000£12,000£25,000,000£10,000£20,000,000£8,000£15,000,000MC£6,000FAC£10,000,000£5,000,000£4,000£0£2,0005501,1001,6502,2002,7503,300-- TC£0500100015002000250030003500 Q 4: The following Table and Figures show differences in the cost structures for undergraduate and graduates:MC ($)АC ($)7,6597,348Total cost ($)105,311,250Students7,2596,548Undergraduate13,75027,50041,25055,000202,070,00068,75082,500Students5,8385,1254,4173,706MC ($)7,0386,7276,4176,106369,985,000441,168,750503,745,000Total cost ($)AC ($)Graduate2,7505,50033,385,00051,697,0008,25011,00013,75016,5006,5416,8217,1027,3837,66412,1409,3998,6728,3658,2498,22892,015,000113,423,7507,945135,762,000

Cost can be defined as a concept that shows the amount of expenditure and any other sacrifice such…

Answered: Q 4: Answer the questions below using…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q 4: Answer the questions below using the following Table (and Figures if needed):

c) As Vice-Chancellor, should you consolidate or expand the programs. Provide your advice using the information in the table

d) What is the effect of the introduction of a license fee of 9 million dollars by the government for undergraduate programs being offered by universities on the zero-profit curve for these programs? Use relevant plots in your answer

Undergraduate students:
£9,000
Total Cost Functions for Undergraduate
Students
£8,000
£7,000
£120,000,000
£6,000
f100,000,000
£5,000
MC
£80,000,000
£4,000
FAC
£60,000,000
£3,000
£40,000,000
£2,000
£20,000,000
£1,000
£0
£0
2,750
5,500
8,250
11,000
13,750
16,500
5,000
10,000
15,000
20,000
TC
Graduate students:
Total Cost Functions for Graduate Students
£14,000
£30,000,000
£12,000
£25,000,000
£10,000
£20,000,000
£8,000
£15,000,000
MC
£6,000
FAC
£10,000,000
£5,000,000
£4,000
£0
£2,000
550
1,100
1,650
2,200
2,750
3,300
-- TC
£0
500
1000
1500
2000
2500
3000
3500

Q 4: The following Table and Figures show differences in the cost structures for undergraduate and graduates:
MC ($)
АC ($)
7,659
7,348
Total cost ($)
105,311,250
Students
7,259
6,548
Undergraduate
13,750
27,500
41,250
55,000
202,070,000
68,750
82,500
Students
5,838
5,125
4,417
3,706
MC ($)
7,038
6,727
6,417
6,106
369,985,000
441,168,750
503,745,000
Total cost ($)
AC ($)
Graduate
2,750
5,500
33,385,000
51,697,000
8,250
11,000
13,750
16,500
6,541
6,821
7,102
7,383
7,664
12,140
9,399
8,672
8,365
8,249
8,228
92,015,000
113,423,750
7,945
135,762,000

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