Amajor state university in the south recently raised tuition by 12%. an economics professor at this university asked his students, "how many of you will transfer to another university because of the increase in tuition? " one student in about 300 said that he or she would transfer. based on this information, the price elasticity of demand for education at this university is:
- highly elastic.
- highly inelastic.

The price elasticity of demand for education at this university is highly inelastic.

Explanation:

The definition of elasticity of demand is the degree of change in the demand for a good with the change of its price.

In this case,  the change in the demand is very low, only 1 student of 300 will leave the university if the price increase.  

So we can say this demand is inelastic.  

almost done 23 out of 25

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%