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Increase total revenue earned

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The Chancellor and Board of Trustees of the State System of Higher Education want to raise tuition to increase total revenue earned. As an astute economics student, you know that there is a relationship between total revenue and the price elasticity of demand. Before the System raises tuition, they ask you to analyze their decision.

Under what elasticity conditions (elastic or inelastic) should they raise tuition to increase revenue?

Reference no: EM131176860

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