A University Conducts a Survey of Students, Which Shows That

question 387

Multiple Choice

A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 7 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:

Adolescent

An individual in the stage of development between childhood and adulthood, often marked by significant physical, psychological, and social changes.

Cognitive Development

The process by which a person's ability to think, reason, and problem solve grows and changes over time.

Abductive Reasoning

A form of logical inference that starts with an observation then seeks to find the simplest and most likely explanation.