A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 7 percent decrease in the enrollment
If the university wants to increase its total revenue, it should ________ tuition because the demand for education at this university is ________. A) raise; elastic
B) not raise; elastic
C) raise; inelastic
D) not raise; inelastic
C
Economics
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Suppose the Utopian economy has the following characteristics: 100,000 people in the noninstitutional population; 80,000 people employed; 20,000 people not in the labor force. What's the unemployment rate?
A) -20 percent B) 0 percent C) 25 percent D) 60 percent E) 80 percent
Economics
If the _______ differ between two countries, this suggests the possibility for mutually advantageous trade.
A) opportunity costs B) marginal costs C) absolute costs D) fixed costs
Economics