Consider the Statement: "When the British Government Tripled University Fees

question 8

Multiple Choice

Consider the statement: "When the British government tripled university fees for foreign students in Great Britain,about one-half of them left to study in other countries." The implied price elasticity of demand by foreigners for a British education is (in absolute value)

• A)less than 1.
• B)equal to 1.
• C)between 1.0 and 1.5.
• D)greater than 1.5.

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