If the university administration plans to cut tuition charges in the hope of attracting more students and thereby increasing tuition revenues, we know
A) they are assuming an elastic demand.
B) they are assuming an inelastic demand.
C) they cannot succeed because of the law of demand.
D) they must be running in the red.
E) they will only succeed if more students can be enrolled at no cost.
A
Economics
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Economists are generally in support of:
A) government restrictions on trade. B) free international trade. C) tariffs to restrict trade. D) subsidizing exports.
Economics
I recently had the electric company install a device to turn off my air conditioner for brief periods during time of excessive heat. They pay me $8 a month for permission to do that. Why would a firm pay me to demand less of their product?
What will be an ideal response?
Economics