Multiple Choice
A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 12 percent decrease in the enrollment. If the university wants to increase its total revenue, it should ________ tuition because the demand for education at this university is ________.
A) raise; elastic
B) not raise; elastic
C) raise; inelastic
D) not raise; inelastic
Correct Answer:
Verified
Correct Answer:
Verified
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