Get Smart University Is Contemplating an Increase in Tuition to Enhance

question 143

Multiple Choice

Get Smart University is contemplating an increase in tuition to enhance revenue.If GSU feels that raising tuition would enhance revenue,it is

• A)ignoring the law of demand.
• B)assuming that the demand for university education is elastic.
• C)assuming that the demand for university education is inelastic.
• D)assuming that the supply of university education is elastic.

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Definitions:

Retrace

To follow back or go over something again, typically a path or a series of events.

Naming

The act or process of assigning or creating a name for something or someone.

Retrieval

The process of obtaining information or data from a storage location or database.

Replacement

The process of substituting one thing for another, such as a joint replacement surgery where a damaged joint is replaced with an artificial one.