If Stimpson University increases tuition in order to increase its revenue, it will:
A. not be successful if the demand curve slopes downward.
B. be successful if demand is elastic.
C. be successful if demand is inelastic.
D. be successful if supply is elastic.
Answer: C
Economics
You might also like to view...
How well fiscal policy works depends on how much the velocity of money can be changed by government tax and spending decisions.
Answer the following statement true (T) or false (F)
Economics
If products C and D are close substitutes, an increase in the price of C will
A. tend to cause the price of D to decrease. B. shift the demand curve for D to the right. C. shift the demand curves for both products to the right. D. shift the demand curve for C to the left and the demand curve for D to the right.
Economics