What is the implied price elasticity of demand

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Reference no: EM13192051

"When the British government tripled university fees for foreign students in Great Britain, about one-half of them left to study in other countries."

What is the implied price elasticity of demand by foreigners for a British education is (in absolute value). Explain.
What do you think happened to university revenues from foreign students in Great Britain? Explain.

Reference no: EM13192051

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