A recent study on enrollment at a liberal arts college concluded that demand elasticity is 0.91 . The administration is considering a tuition increase to help balance the budget. The revenue-maximizing decision is to
a. decrease tuition, which should boost enrollment enough to balance the budget.
b. decrease tuition, which would bring in more revenue.
c. leave tuition as is-an increase would not help balance the budget.
d. increase tuition, which would bring in more revenue.
d
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Which of the following is illegal under the Sherman Act? I. A competitor agrees with another competitor on the price at which the product will be sold. II
A manufacturer refuses to supply a retailer who does not accept the manufacturer's guidance on the price. A) only I B) only II C) both I and II D) neither I nor II
Holding all else constant, a country's standard of living will rise if its
A. nominal GDP grows at a faster rate than real GDP. B. nominal GDP grows at a slower rate than real GDP. C. the rate of population growth exceeds the rate of growth of real GDP. D. the rate of population growth is less than the rate of growth of real GDP.