Multiple Choice
Suppose an analysis of the possible effects of increases in university tuition fees predicts that a 10% increase in tuition fees will result in a 3% decline in enrolment.What is the implied price elasticity of demand for university attendance?
A) 0
B) 0.3
C) 3
D) 7
E) 10
Correct Answer:
Verified
Correct Answer:
Verified
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