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I'm struggling in this question. Please help me explain, thank you so much! Question Set Four: 1. A college raises its annual tuition from $43,000

I'm struggling in this question. Please help me explain, thank you so much!

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Question Set Four: 1. A college raises its annual tuition from $43,000 to $48,000, and its student enrollment falls from 14,877 to 14,605. Compute the price elasticity of demand. Is demand for the college elastic or inelastic? 2. Jake enjoys walking with his friends every Saturday. The following table contains information on Jake's utility from the walking with his friends. Fill in the blank cells to calculation the total utility and marginal utility and draw a total utility and marginal utility curves. Utility chart # of Total Marginal Saturday utility utility (Utils (days) (Utils) per day) 0 0 0 1 28 2 24 3 4 102 A drawing area

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