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Question: universities around the country have been becoming more competitive over...

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UNIVERSITIES AROUND THE COUNTRY HAVE BEEN BECOMING MORE COMPETITIVE OVER THE YEARS. OBVIOUSLY, TUITION IS A KEY DETERMINANT OF DEMAND FOR UNIVERSITY ATTENDANCE, BUT THERE ARE OTHER METHODS OF INCREASING THE ENROLLMENT RATES. IN FACT, UNIVERSITIES HAVE BEEN USING DIFFERENT STRATEGIES TO INCREASE ENROLLMENT SUCH AS ONLINE COURSES, FLEXIBLE ATTENDANCE, REDUCED COURSE LOAD, INTERDISCIPLINARY MAJORS ETC. IF YOU WERE HIRED BY THE FEDERAL GOVERNMENT (LET'S ASSUME THAT THE GOVERNMENT IS NOT SHUTDOWN ANYMORE) TO ESTIMATE THE PRICE ELASTICITY OF DEMAND FOR UNIVERSITY EDUCATION, WHAT KIND OF STEPS WILL YOU TAKE? WHAT KIND OF DATA WILL YOU NEED? WHAT IS YOUR DEPENDENT VARIABLE? WHAICH VARIABLES DO YOU THINK INFLUENCE THE ATTENDANCE DECISION (INDEPENDENT VARIABLES)? YOU DON'T NEED TO OBTAIN DATA AND ESTIMATE ANYTHING, JUST EXPLAIN YOUR THINKING STRATEGY.

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