A Private School Is Considering Increasing Its Tuition to Raise

question 123

Multiple Choice

A private school is considering increasing its tuition to raise revenue.If the school believes that raising tuition will increase revenue,

• A)it is assuming that the demand for attending the school is inelastic.
• B)it is assuming that the demand for attending the school is elastic.
• C)it is assuming that the demand for attending the school is unit-elastic.
• D)it is assuming that the demand for attending the school is perfectly elastic.

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Definitions:

Otolith Organs

Structures in the vestibular system that detect linear accelerations of the head and contribute to the sensation of gravity and motion.

Touch Receptors

Sensory nerve endings in the skin that respond to tactile stimuli, allowing the sensation of touch.

Cutaneous Sense

The sensory system related to the skin, involving perception of touch, pressure, temperature, and pain.

Olfactory

Pertains to the sense of smell.