Consider the Statement: "When the British Government Tripled University Fees

Multiple Choice

Consider the statement: "When the British government tripled university fees for foreign students in Great Britain,about one-half of them left to study in other countries." The implied price elasticity of demand by foreigners for a British education is (in absolute value)

A) less than 1.
B) equal to 1.
C) between 1.0 and 1.5.
D) greater than 1.5.