It therefore follows that any attempt by the university to increase tuition fees would result in a greater decline in the percentage of college education required, resulting in a loss of revenue. The university should consider reducing tuition fees to maximize revenue. The underlying reason is that, since demand is elastic, a small reduction in prices would translate into a more than proportional increase in the amount of university education required. As a result, there will be an increase in the total amount of revenue generated by the university as a result of the reduction.5. To ensure increased revenue for the university, I will place emphasis on the correct pricing of tuition fees as price is one of the key determinants of demand. Determining the appropriate price elasticity of demand for college education is essential. The elasticity of demand will determine the impact of an increase in college tuition on the amount of college education required. With a price elasticity of 1.2, the demand for college education is elastic. As a result, I will reduce tuition fees to entice students to enroll in college. This should be the case since a small reduction in tuition fees translates into a more than proportional increase in undergraduate education enrollments at the institution. Since revenue is a function of price and quantity demanded, undertaking a tuition fee reduction would stimulate revenue for the