Based on the fact that the demand elasticity is 0.91, the revenue-maximizing decision would be to d. increase tuition, which would generate more revenue.
<h3>Why is this the revenue-maximizing decision?</h3>
When the demand elasticity is below 1 as is the case here, it means that demand is inelastic.
When demand is inelastic, an increase in price will lead to a lower decrease in demand. This means that increasing prices for enrollment in this college will bring in revenue because there won't be much change in demand.
In conclusion, option D is correct.
Find out more on demand elasticity at brainly.com/question/6791468.
The federal government spends $668 billion dollars on welfare per year
<span>Work should be prioritized depending on the urgency of the end result. If certain deliveries are more urgent, they should be completed sooner.</span>
Answer:
The correct answer is letter "C": Diminishing returns.
Explanation:
The Law of Diminishing Marginal Returns states that as the number of new workers increases, an additional employee's marginal product at some stage would be less than the previous employee's marginal product. This is because at a certain point adding more employees implies not having enough space for the new hires to work which diminishes the marginal return of every new individual hired by the firm.
