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Describe the elasticity of the tuition

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The tuition for your schooling has increased by 20%. How will this affect demand and consumer behavior? Describe the elasticity of the tuition?

Imagine that there are currently 10,000 students enrolled at an institution. The school decides to increase tuition, and enrollment falls to 9,000. Tuition started at $4,000 per semester but has since gone up to $4,800. What is the elasticity of demand?

How will this impact total revenue for your institution? What inferences can be made from this information?

Reference no: EM132813354

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