A private university charges the same tuition for both in-state and out-of-state students, and it notices that in-state and out-of-st tudents seem to respond differently to tuition changes. The quantity demanded for in-state and out-of-state students at differen uition levels is provided below. Tuition $10,000 $15,000 $20.000 Quantity demanded (in-state applicants) 6,000 5,000 4.000 Quantity demanded (out-of-state applicants) 12,000 9,000 6.000

A private university charges the same tuition for both in-state and out-of-state students, and it notices that in-state and out-of-st tudents seem to respond differently to tuition changes. The quantity demanded for in-state and out-of-state students at differen uition levels is provided below. Tuition $10,000 $15,000 $20.000 Quantity demanded (in-state applicants) 6,000 5,000 4.000 Quantity demanded (out-of-state applicants) 12,000 9,000 6.000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

What is the in-state and the out of state elasticity? Give your answer to two decimals.

A private university charges the same tuition for both in-state and out-of-state students, and it notices that in-state and out-of-state
students seem to respond differently to tuition changes. The quantity demanded for in-state and out-of-state students at different
tuition levels is provided below.
Tuition
$10,000
$15,000
$20,000
$30,000
Quantity demanded
(in-state applicants)
6,000
5,000
4,000
3,000
Quantity demanded
(out-of-state applicants)
12,000
9,000
6,000
3,000

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