Suppose that Ivy Collegeadministrators propose to increase revenue for the colle

Question

Suppose that Ivy Collegeadministrators propose to increase revenue for the college byraising tuition for all students. The college administrators areassuming that the (absolute value of the) price elasticity ofdemand for education is:
A.   Equal to 1.0 B.   Less than 1.0 C.   Greater than 1.0 Suppose that Ivy Collegeadministrators propose to increase revenue for the college byraising tuition for all students. The college administrators areassuming that the (absolute value of the) price elasticity ofdemand for education is: A. Equal to 1.0 B. Less than 1.0 C. Greater than 1.0

Explanation / Answer

C greater than 1.0. because administrators propose to increase revenue.

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