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.

---

Definitions:

Immediate Context Factors

Pertains to the environmental, situational, or circumstantial elements that directly impact an event or decision at the moment it occurs.

Immediate

Occurring or done at once; instant.

Embrace

To accept or support something enthusiastically or willingly.

Strategy

A plan of action designed to achieve a long-term or overall aim.