A college raises its annual tuition from 28000 to 30000 and


A college raises its annual tuition from $28,000 to $30,000 and its student enrolment falls from 4,877 to 4,715. Compute the price elasticity of demand. Is demand elastic or inelastic? Explain and show your work.

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Business Economics: A college raises its annual tuition from 28000 to 30000 and
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