A Public University Knows That Demand from Potential Students Is

question 66

Multiple Choice

A public university knows that demand from potential students is elastic.If the university wants to increase tuition revenue,it should

• A)raise its tuition rate
• B)hold its tuition rate constant and increase faculty salaries
• C)increase its financial aid
• D)lower its tuition rate
• E)increase its enrollment

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Definitions:

Reciprocal

The inverse of a number or expression; for a nonzero number \(x\), its reciprocal is \(1/x\).

Simplest Form

A term used to describe an expression, fraction, or other mathematical entity that has been reduced to its most basic form, eliminating any common factors or simplifying variables.

Repeated Addition

Repeated addition is the process of adding the same number multiple times, which is a foundational principle behind multiplication.

Repeated Multiplication

The process of multiplying a number by itself a specified number of times.