A University Raises Annual Tuition by 10 Percent

Multiple Choice

A university raises annual tuition by 10 percent. No other events have occurred, and the university's revenues have increased. It must be true that

A) the associated change in quantity demanded was smaller than 10 percent.
B) the associated change in quantity demanded was equal to 10 percent.
C) the associated change in quantity demanded was greater than 10 percent.
D) there was no associated change in quantity demanded.