Answer:
Price Elasticity of Demand is -4
Explanation:
We can see the graph and easily calculate the Q1 which is 120 units at P1 $140 and Q2 which is 80 units at P2 $160 price.
The starting point formula for calculating price elasticity of demand is given as under:
Price Elasticity of Demand = (ΔQ / Q2) / (ΔP / P2)
Here
ΔQ = Q1 - Q2 = 120 - 80 = 40 units
ΔP = P1 - P2 = 140 - 160 = - $20
By putting value in the above equation, we have:
Price Elasticity of Demand = (40 Units / 80 Units) / (-$20 / $160)
Price Elasticity of Demand = -4
Answer:
66.67%
Explanation:
Given that,
Enrollment of new students per semester (Desired capacity) = 2,100
Holly Lutze, placed a ceiling on enrollment of new students = 1,600
Conflicting schedules allowed only (Actual intake) = 1,400 new students
Therefore,
The utilization rate for Southeastern:


= 66.67%
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