A study of about 1,800 U. S. colleges and universities resulted in the demand equation q = 9,900 - 2p, where q is the enrollment at a college or university, and p is the average annual tuition (plus fees) it charges. (a) The study also found that the average tuition charged by universities and colleges was $2,700. What is the corresponding price elasticity of demand? (Round your answers to two decimal places.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A study of about 1,800 U. S. colleges and universities resulted in the demand equation q = 9,900 - 2p, where q is the enrollment at a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The following data apply to Garber Industries, Inc. (GII) : Value of operations $1,000 Short-term investments $100 Debt $300 Number of shares 100 The company plans on distributing $100 as dividend payments.
Answers (1)
2. Identify four financial services that allow you to pay for goods and services.
Answers (1)
Johnson Company manufactures a variety of shoes, and has received a special one-time-only order directly from a wholesaler. Johnson has sufficient idle capacity to accept the special order to manufacture 15,000 pairs of sneakers at a price of $7.
Answers (1)
Helmsman Products sells a special type of navigation equipment for $ 1 comma 400. Variable costs are $ 900 per unit.
Answers (1)
Which of the following is an example of law notenacted by an elected body? a. municipal law b. administrative regulations c. state codes d. United States Code e. all of the above are enacted by an elected body
Answers (1)
New Questions in Business
What is the acid-test ratio for a merchant with the following account balances? (Round your answer to two decimal places.
Answers (2)
When the market fails to adjust for the full costs of a firm's behavior, this is called?
Answers (1)
What is the basic formula of the malthus theorem?
Answers (1)
If an industry is perfectly competitive or monopolistically competitive, then the government has relatively little reason for concern about the extent of competition new ways of pleasing customers taking advantage of economies of scale regulatory
Answers (1)
Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $480,000, and direct labor costs to be $240,000.
Answers (1)