Suppose an Analysis of the Possible Effects of Increases in University

question 117

Multiple Choice

Suppose an analysis of the possible effects of increases in university tuition fees predicts that a 10% increase in tuition fees will result in a 3% decline in enrolment.What is the implied price elasticity of demand for university attendance?

• A)0
• B)0.3
• C)3
• D)7
• E)10

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Definitions:

Childhood Experience

A collection of memories, events, and formative incidents occurring during the years of a person's early life.

Full Potential

Refers to the ultimate level of performance or achievement one can attain, utilizing all their skills and capabilities.

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The friendly and generous reception and entertainment of guests, visitors, or strangers.

Unconscious Bias

Prejudices or unsupported judgments in favor of or against one thing, person, or group as compared to another, in a way that is usually considered unfair.