ECONOMIC ASSIGNMENT 2Answer 1Figure 1: Demand of International Student in Charles Darwin University (Source: as created by author)Figure 1 depicts the demand-supply scenario for international students in Charles DarwinUniversity. Initially, the demand for the university’s education service is given as DD. Thesupply of education service is given as SS. E indicates equilibrium position of the university(Bernanke, Antonovics and Frank 2015). There are M number of students enrolled in theuniversity with a fess of F. Now, when several Australian universities open up campuses inAsian countries, the students previously coming from Asian countries to study in differentuniversities of Australia now have opportunity to study in their home country. They no longerneed to come in Australia to get admission in Australian universities. The new campuses in
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