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Suppose these are the following Demand/MV and Supply/MC equations for higher education, where Q is the...

Suppose these are the following Demand/MV and Supply/MC equations for higher education, where Q is the number of students and P is tuition.
The marginal value equation is: MV=13.30-1.30*Q
The marginal cost equation is: MC=1.80+0.55*Q





What is the equilibrium tuition(price)?


Students receive a per-unit $2.00 scholarship if they attend university.




What is the new tuition?




What is the total amount spent on scholarships?

Now, in addition to the scholarships received by students, the university receives a $1 per student subsidy.







What will the new tuition be?





What is the total revenue (including subsidy) to universities?

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