Figure 6-4 -Facing Stiff Competition, Hendrix College, a Small Liberal Arts Institution

question 156

Multiple Choice

Figure 6-4
-Facing stiff competition, Hendrix College, a small liberal arts institution in Conway, Ark., decided two years ago to bolster its academic offerings, promising students at least three hands-on experiences outside the classroom, including research, internships and service projects. Although it raised tuition and fees by 29 percent, enrollment in the freshman class rose by 37 percent. Source: Jonathan D. Glater and Alan Finder, "In New Twist on Tuition Game, Popularity Rises With the Price," New York Times, December 12, 2006
Based on the information above, the demand for Hendrix College education is

• A) unit-elastic.
• B) perfectly elastic.
• C) relatively inelastic.
• D) More information is needed to answer the question.

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Definitions:

Airflow

The movement of air around or through a specific space, often related to ventilation or aerodynamics.

Bronchial Trees

The network of airways in the lungs, including the trachea, bronchi, and bronchioles.

Alveoli

Little vesicles in the lungs responsible for the transfer of oxygen and carbon dioxide.

Cartilage

A firm, flexible connective tissue found in various forms in the human body such as joints, rib cage, and ear structure.