A study of about 1800 U.S. colleges and universities resulted in the demand equation where q is the enrollment at a college or university and p is the average annual tuition (plus fees)it charges. The study also found that the average tuition charged by universities and colleges was $2,127. What is the corresponding elasticity of demand?
A)1.55
B)0.30
C)1.16
D)-0.78
E)0.78

Question

A study of about 1800 U.S. colleges and universities resulted in the demand equation  where q is the enrollment at a college or university and p is the average annual tuition (plus fees)it charges. The study also found that the average tuition charged by universities and colleges was $2,127. What is the corresponding elasticity of demand?
A)1.55 
B)0.30 
C)1.16 
D)-0.78 
E)0.78

Quizplus · Accepted Answer

The Answer of A study of about 1800 U.S. colleges and universities resulted in the demand equation  where q is the enrollment at a college or university and p is the average annual tuition (plus fees)it charges. The study also found that the average tuition charged by universities and colleges was $2,127. What is the corresponding elasticity of demand?
A)1.55 
B)0.30 
C)1.16 
D)-0.78 
E)0.78

A Study of About 1800 U