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1) Using the factors that influence the price elasticity of demand, do you think going to college is an elastic or inelastic good? 2) State
1) Using the factors that influence the price elasticity of demand, do you think going to college is an elastic or inelastic good?
2) State the factors and then support your answer. (You should provide more than one factor.)
3) Often times when a college has over crowded parking, they raise the price of parking permits to lessen the problem.Does this policy work? Explain why or why not using supply and demand and/or elasticity.
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