If the university needs to increase enrollment by 15% and the estimated price elasticity of demand for WIU is -1.4, then what do they need to do to the price of tuition? O increase tuition by 10.7% decrease tuition by 10.7% O increase tuition by 21% decrease tuition by 21%

If the university needs to increase enrollment by 15% and the estimated price elasticity of demand for WIU is -1.4, then what do they need to do to the price of tuition? O increase tuition by 10.7% decrease tuition by 10.7% O increase tuition by 21% decrease tuition by 21%

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

If the university needs to increase enrollment by 15% and the estimated price
elasticity of demand for WIU is -1.4, then what do they need to do to the price of
tuition?
O increase tuition by 10.7%
decrease tuition by 10.7%
increase tuition by 21%
decrease tuition by 21%

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