private universities consider the demand for private university is * a. a normal good b. an inferior good c. a substitute good d. a complementary 2. How should this condition be interpreted? * a. The demand for private universities is income inelastic, students react weakly to the change in their income. b. The demand for private universities is income inelastic, students react strongly to the change in their income. c. The demand for private universities is income elastic, students react strongly to the change in their income. d. The demand for private universities is income elastic, students react weakly to the change in their income.
If a 10 percent increase in income causes the number of students who choose to attend private universities to go up by 5 percent,
1. The students who choose to attend to a private universities consider the
a. a normal good
b. an inferior good
c. a substitute good
d. a complementary
2. How should this condition be interpreted? *
a. The demand for private universities is income inelastic, students react weakly to the change in their income.
b. The demand for private universities is income inelastic, students react strongly to the change in their income.
c. The demand for private universities is income elastic, students react strongly to the change in their income.
d. The demand for private universities is income elastic, students react weakly to the change in their income.
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