A University Conducts a Survey of Students, Which Shows That

question 33

Multiple Choice

A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 12 percent decrease in the enrollment. If the university wants to increase its total revenue, it should ________ tuition because the demand for education at this university is ________.

• A) raise; elastic
• B) not raise; elastic
• C) raise; inelastic
• D) not raise; inelastic

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Definitions:

Favorite Author

A personal preference towards an author whose works are especially appreciated or admired by an individual.

Intrinsic Motivation

The drive to engage in activities for their own sake, out of interest or enjoyment, rather than for external rewards.

Own Sake

Doing something for its intrinsic value or enjoyment, rather than for an external reward or outcome.

Set Point

A theory suggesting that the body maintains its weight and energy balance through internal regulatory mechanisms.