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zzz [600]
3 years ago
10

A college raises its annual tuition by​ 25%, and its student enrollment falls by​ 3.5%. Compute the price elasticity of demand.

Is demand elastic or​ inelastic? Will TR​ increase, decrease, or remain the​ same? ED​ = nothing ​(round at 2 decimal​ places). What are the units for​ elasticity? A. ​$ B. qty C. elasticity does not have a​ unit; it is just a number D. ​%
Business
1 answer:
Diano4ka-milaya [45]3 years ago
6 0

Answer:

Elasticity does not have a unit because it is a pure number

Demand is Elastic

TR decrease due to the demand been elastic. a rise in tuition fee causes the total revenue to decrease

Explanation:

Tuition fees increment  by 25%

Student enrollment decreases by 3.5%

Price elasticity of demand=%change in quantity demanded / %change in price

                                            =  -3.5/ 2.5

                                             = -1.40

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3 years ago
Suppose the benefit of owning a painting, in terms of your personal enjoyment, is worth 5% of the value of the painting. If the
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3 years ago
A company that continually adds more features to an existing product to try to appeal to more customers may end up overwhelming
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7 0
2 years ago
The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales $3,900 Current asse
Ratling [72]

Answer:

$2,896 is needed

Explanation:

external financing needed = net income - working capital needs - capital expenditures + retained earnings

  • net income = $1,560 x 1.2 = $1,872
  • working capital needs = ($4,700 x 1.2) - ($860 x 1.2) = $5,640 - $1,032 = $4,608
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3 years ago
Suppose a society begins by producing 3 units of X and 4 units of Y and then alters production to 4 units of X and 4 units of Y.
melisa1 [442]

Answer:

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If society managed to produce 1 more unit of X with the same resources and technology, this means that some resources were idle in the past, which causes inefficiency.

This also means that the combination 3 units of X and 4 units of Y is a point inside the PPF. However, we do not know if the combination 4 units of X and 4 units of Y is a point inside the PPF, or on the PPF, because there could be some other combination that could be even more efficient (for example 5 units of both X and Y with the same resources and technology).

4 0
3 years ago
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