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In Fall 2006, Pace University in New York raised its annual tuition from 24,500 to 29,200. Freshman enrollment declined from 1500 in Fall 2005 to

In Fall 2006, Pace University in New York raised its annual tuition from 24,500 to 29,200. Freshman enrollment declined from 1500 in Fall 2005 to 1100 Fall 2006. Assuming that the demand curve for places in the Freshman class at Pace did not shift between 2005 and 2006. Use this information to calculate the price elasticity of demand. The price elasticity for demand for 2006 is ______?

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