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As a policy analyst you have been asked to calculate the elasticity of demand for university courses. What is the price elasticity of demand for courses at the universities that increases their fees by 30%? Is demand for these courses elastic or inelastic? What factors do you think are responsible for this degree of elasticity? Is tuition fee revenue likely to increase or decrease at these particular universities?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91604376

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