Multiple Choice
The Dean of Arts recently announced a 20% increase in tuition and explained that the increase was needed to raise the university's revenue.Which of the following might the Dean be assuming about the elasticity of demand for education at her school?
A) It is elastic.
B) It is inelastic.
C) It is perfectly elastic.
D) It could be either elastic or perfectly elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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