Bumbling University Decides to Raise Tuition Fees to Increase Its

question 31

Multiple Choice

Bumbling University decides to raise tuition fees to increase its total revenue. This strategy will work if the demand for a Bumbling education is:

• A) inelastic
• B) inversely related to price
• C) elastic
• D) unit elastic

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Definitions:

Project Rate of Return

The expected return on an investment, estimating the profitability of a project or investment.

Fund Utilization

The process of using allocated funds or resources efficiently for intended purposes.