Astudy of about 1,800 u. s. colleges and universities resulted in the demand equation q = 9,800 − 2p, where q is the enrollment at a college or university, and p is the average annual tuition (plus fees) it charges. (a) the study also found that the average tuition charged by universities and colleges was $2,800. what is the corresponding price elasticity of demand? (round your answers to two decimal places.) is the price elastic or inelastic? elastic inelastic should colleges charge more or less on average to maximize revenue? more less (b) based on the study, what would you advise a college to charge its students in order to maximize total revenue? $ per student what would the revenue be? $
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Astudy of about 1,800 u. s. colleges and universities resulted in the demand equation q = 9,800 − 2p...
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