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Explore the rise of online degrees and the advantages they offer over traditional colleges, including lower costs, access to remote students, and a flexible schedule. Discover how online classes can accommodate thousands of students without increasing costs, making the total costs much lower compared to traditional colleges.
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Traditional Goes Technical: The Rise of Online Degrees Paige Langer
Total Costs Online Technology, access to remote students, flexible schedule Lower cost to student (61k-96k) Lower Fixed Costs: cheaper rent& utilities Lower Variable Costs: online classes (MOOCs) can have thousands of students in one class with out increasing costs Total costs will be lower Traditional • Face-to-fact interaction, social activities, multi-sense instruction • Higher cost to student (93k-111k) • Higher Fixed Costs: more faculty, much higher rent & utilities • Higher Variable Costs: expansion of campus, hiring more professors and support staff • Total Costs will be higher
Total Costs In Graphs $ $ Traditional College Online College Quantity Quantity Total Cost= Green Variable Cost=Blue Fixed Cost=Red
Average & Marginal Costs $ $ Traditional Online MC ATC MC AVC ATC AVC AFC AFC Quantity Quantity
