Multiple Choice
Get Smart University (GSU) is contemplating increasing tuition to enhance revenue.If GSU feels that raising tuition would enhance revenue they are:
A) necessarily ignoring the law of demand
B) assuming that the demand for university education is elastic
C) assuming that the supply of university education is elastic
D) assuming that the demand for university education is inelastic
Correct Answer:
Verified
Correct Answer:
Verified
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