Spain was once the World’s most powerful country. By the 20th century it was a poor and backward country where corruption was rife. It had lost nearly all of its overseas possessions (e.g. Cuba, the Philippines) and great extremes of wealth and poverty caused severe social tensions. Industry was confined mainly to Barcelona and the Basque country. Spaniards were divided on the type of government that they wanted. Monarchists were conservative and Catholics and did not want to reform Spain. Those who wanted a republic were anti-clerical and hoped to reform Spanish society. There were a number of areas where it was felt reform were needed:
1659 The Failure of the Commonwealth
1688 The Revolution
1707 The Act of Union
1807 The Slave Trade Act
1815 The Battle of Waterloo
1855 The Bessemer Process
1914 - 1918 The First World War
1939 - 1945 World War II
Answer:
B. increase tuition in order to increase revenue
Explanation:
Price elasticity of demand is a concept that seeks to measure the sensitivity of demand to the price of a good or service. Thus, if demand is elastic, it means that even small variations in price have a strong impact on demand. Conversely, if demand is inelastic, variations in the price of the good will not greatly affect demand, meaning consumers will continue to demand that particular good or service. The calculation of the price elasticity of demand consists in the division between the variation of the quantity demanded by the variation in the price practiced. If the result is greater than 1, demand is considered elastic (price sensitive). Conversely, if elasticity is less than 1, demand is considered inelastic (little price sensitive). If elasticity equals one, then the change in demand is exactly the same as the price change.
In the case of this faculty, the demand for courses is 0,91, so it's less than 1, therefore inelastic demand. This way, the college can maximize its revenue by increasing the tuition fee.
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