Amajor state university in the south recently raised tuition by 12%. an economics professor at this university asked his students, "how many of you will transfer to another university because of the increase in tuition? " one student in about 300 said that he or she would transfer. based on this information, the price elasticity of demand for education at this university is:
- highly elastic.
- highly inelastic.
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Ответ:
The price elasticity of demand for education at this university is highly inelastic.
Explanation:
The definition of elasticity of demand is the degree of change in the demand for a good with the change of its price.
In this case, the change in the demand is very low, only 1 student of 300 will leave the university if the price increase.
So we can say this demand is inelastic.
Ответ:
idk
Explanation: