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Korolek [52]
3 years ago
11

Facing stiff competition, Hendrix College, a small liberal arts institution in Conway, Ark., decided two years ago to bolster it

s academic offerings, promising students at least three hands-on experiences outside the classroom, including research, internships and service projects. Although it raised tuition and fees by 29 percent, enrollment in the freshman class rose by 37 percent. (Source: Jonathan D. Glater and Alan Finder, "In New Twist on Tuition Game, Popularity Rises With the Price," New York Times, December 12, 2006) Based on the information above, the demand for Hendrix College education is
Business
1 answer:
Marianna [84]3 years ago
6 0

Answer:

Inelastic

Explanation:

Price elasticity of demand (PED) is the proportional change in quantity demanded of a good or service if the price changes by 1%. The PED is calculated by dividing the percentage change in quantity demanded by the negative percentage change in price.

PED = 37% / -25% = -1.48 inelastic

If PED > 1, elastic demand

If PED < 1, inelastic demand

If PED = 1, unitary demand

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A similarity between both of those is that they are both types of limited governments.
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8 0
3 years ago
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Block Island TV currently sells large televisions for $380. It has costs of $290. A competitor is bringing a new large televisio
Sergeu [11.5K]

Answer:

$238.18

Explanation:

For calculation of target cost first we need to follow some steps which is shown below:-

Step 1

Operating income before = Sold television - Cost

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Step 2

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Step 3

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= $320 - $81.82

= $238.18

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3 years ago
Agatha is starting a small jewelry design business called "budget beads and baubles," and she plans to design jewelry that is ai
seropon [69]
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3 0
3 years ago
Alejandro Yago leased a Jeep for $209.00 per month for 60 months.He paid a deposit of $850.00, a title fee of $45.00, and a lice
kenny6666 [7]

Answer:

$ 14,267.88  

Explanation:

The total cost of leasing the jeep will be

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charges for miles above 60,000 miles (73,524 -60,000)

=$0.12 x  13524

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Total cost = $45 +$60 + $12,540, + $1,622.88

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