1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sphinxa [80]
3 years ago
13

Get Smart University is contemplating an increase in tuition to enhance revenue. If GSU feels that raising tuition would enhance

revenue, it is
a. assuming that the demand for university education is elastic
b. assuming that the demand for university education is inelastic.
c. assuming that the supply of university education is elastic.
d. ignoring the law of demand.
Business
1 answer:
Vikentia [17]3 years ago
5 0

Answer:

Correct option is (b)

Explanation:

Price elasticity of demand is the law that states that proportion of percentage change in demand due to percentage change in price only and not any other factors. Demand is perfectly elastic if quantity demanded changes tremendously with change in price. Demand is inelastic if there is no change in quantity demanded with increase in price.

Here, Get smart university plans to increase tuition fees assuming that there will be no change in demand for the seats offered by the university due to increase in price. So, it assumes that demand is inelastic.

You might be interested in
Information that is collected for the first time from original sources is called ________.
SpyIntel [72]
Information that is collected for the first time from original sources is called primary research.

Primary research is research you contact yourself. A few examples of ways to collect primary research are through surveys, focus groups and observations.  

Secondary research is information collected from other sources that once was primary research. Although they are complete opposite to get the most accurate research data it is best to use both primary research and secondary research in your market research. 
6 0
3 years ago
​(Yield to​ maturity) The market price is ​$725 for a 16​-year bond ​($1 comma 000 par​ value) that pays 9 percent annual​ inter
wlad13 [49]

Answer:

13.16%

Explanation:

In this question we use the RATE formula i.e shown in the attached spreadsheet

Given that,  

Present value = $725

Assuming figure - Future value or Face value = $1,000  

PMT = 1,000 × 9% ÷ 2 = $45

NPER = 16 years × 2 = 32 years

The formula is shown below:  

= Rate(NPER;PMT;-PV;FV;type)  

The present value come in negative  

So, after solving this, the yield to maturity is 6.58% × 2 = 13.16%

6 0
3 years ago
A 2-year bond with par value $1,000 making annual coupon payments of $106 is priced at $1,000. a. What is the yield to maturity
shutvik [7]

Answer:

Explanation:

Face value = 1000

market price = 1000

annual yield = 106

yield to maturity = (106/1000) x 100

= 10.6 % .

8 0
3 years ago
Who is Adam Smith and what is his belief about prices? Do you agree or disagree? Why?
andrew-mc [135]

Answer:

Adam smith is Abigail Smiths husband

Explanation:

They have been married for centies

4 0
3 years ago
It takes a considerable amount of time to increase the production of pork. this implies that:
salantis [7]
This implies that the work would take longer as well, making the product cost more
7 0
3 years ago
Other questions:
  • The​ _________ of forecasting is a process of gaining consensus from a group of experts
    5·1 answer
  • _________obtain goods from manufacturers and sell them to consumers.
    14·2 answers
  • Suppose that Firms A and B each produce high-resolution computer monitors, but Firm A can do so at a lower cost. Cassie and Davi
    5·1 answer
  • Briefly discuss the purpose and role that each type of financial institutions (depositary, contractual, and investment) play in
    10·1 answer
  • In a single sentence, contrast microeconomics and macroeconomics. Next, categorize each of the following issues as a microeconom
    12·1 answer
  • As a manager for XYZ Company. you are assigned to resolve a conflict between two departments of your organization.Both parties h
    9·1 answer
  • Samantha is a marketing manager and researcher at a beverage company. Her company plans to launch a new health drink in the mark
    14·1 answer
  • The following data are available relating to the performance of Monarch Stock Fund and the market portfolio: Monarch Market Port
    11·1 answer
  • Budgeted sales for the month at 4,600 units. Budgeted variable selling and admin expense is $7.30 per unit. Budgeted fixed selli
    8·1 answer
  • There are many factors that affect an organization. Which factor influences an organization’s structure?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!