Multiple Choice
A private school is considering increasing its tuition to raise revenue.If the school believes that raising tuition will increase revenue,
A) it is assuming that the demand for attending the school is inelastic.
B) it is assuming that the demand for attending the school is elastic.
C) it is assuming that the demand for attending the school is unit-elastic.
D) it is assuming that the demand for attending the school is perfectly elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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