If the board of regents of a major state university system plans to raise tuition in order to increase revenues, the regents must believe student demand is
a. elastic.
b. inelastic.
c. of unitary elasticity.
d. perfectly elastic.
B
Economics
You might also like to view...
How does the textbook's notion of competition as a process differ from the model of perfect competition?
A) The process notion allows for uncertainty and incomplete information; perfect competition doesn't. B) The process notion allows for price searching activity; perfect competition doesn't. C) The process notion allows for product differentiation; perfect competition doesn't. D) The process notion allows for a small number of participants; perfect competition doesn't. E) For all of the above reasons.
Economics
Explain what is meant by perfect price discrimination
What will be an ideal response?
Economics