Facing Stiff Competition, Hendrix College, a Small Liberal Arts Institution

question 83

Multiple Choice

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 elastic.
• D)More information is needed to answer the question.

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Definitions:

Self-perception Theory

The theory that suggests people develop their attitudes by observing their own behavior and concluding what attitudes must have caused it.

Implicit Attitude Theory

A concept that suggests attitudes or feelings that individuals may be unaware of or unable to articulate, significantly influence their responses and behaviors.

Self-knowledge

One's understanding and awareness of their own personality, feelings, motives, and desires.

Introspection Theory

A psychological theory which suggests that the examination of one's own conscious thoughts and feelings can provide insight into one's behaviors and mental states.