7) When Clemson recently increased the price for its regular MBA program the number of applications dropped, Clemson ended up admitting fewer students, and total revenue actually dropped. a) Despite this outcome, please explain how it is theoretically possible for profits to have increased. (5) b) Now consider the costs incurred to offer an MBA program (be specific, list out some of the major costs). Given the nature of these costs, please explain why it is very unlikely, again from a theoretical standpoint, that if the number of students and revenue decreased, that profit could have increased