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The university you attend needs to increase total revenue. The vice-chancellor suggests that by ...

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The university you attend needs to increase total revenue. The vice-chancellor suggests that by ...

The university you attend needs to increase total revenue. The vice-chancellor suggests that by raising tuition fees by 5%, total revenue will increase. However, after the tuition fee increase, total revenue actually falls. What can you infer about the price elasticity of demand for an education at your university? Why is this likely to be true? What did your university vice-chancellor assume to be true about the price elasticity of demand for an education at your university?

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Essential Economics for Business

Edition: 5^th

Authors: Sloman, Jones

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meikunn2565 Author

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Brilliant ツ

aznzergs

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Helped a lot

jamesbove

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Thanks

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