Like StarGirl said, the most important thing (esp. for sororities) is to be compatible with the other chapters on campus. If you're too much smaller, even if you're at a reasonable size to still operate, this will affect your image - which affects your ability to rush. Whether you want 5 or 50 new members, you want to be able to get them easily, and to get the members you want, not to struggle for them.
But there are upper and lower limits. Chapters of fewer than 15 members are hard to sustain - everyone has to do a lot of work, and a few bad apples can really take the whole house down. Even if that's the campus standard, I think it's on the small side.
If you have a whole lot more than 150 members, though, it is hard to know them all. But in a case like that, there's an easy solution - Panhel can always bring another sorority in and reduce ceiling, if chapters feel they are getting unweildy. I'm sure at a certain point being huge reduces the chapter's desirability - I mean, who would want to be part of a 500-person pledge class, if such a thing existed?
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Alpha Xi Delta
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