A few years ago, XSU decreased the (advertised) tuition rate for its MBA program from $21,000/student to $13,000/student. Within two years, the number of students enrolled in the program increased from 150 to 400. a.)  Use these values to calculate the price elasticity of demand for XSU’s MBA program. b.)  What was XSU’s revenue from the MBA program before and after this price change? c.)  What else needs to be considered to determine whether this price change had a positive or negative impact on XSU’s budget (or ‘bottom line’)?  Under what condition would this price change have a negative impact on XSU’s budget?

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