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Part B: Problems. Please present the formula for each problem, and solve 7. Enrolled at the University is 4,800. If the price elasticity of the

Part B: Problems.

Please present the formula for each problem, and solve

7. Enrolled at the University is 4,800. If the price elasticity of the University Offer is +.20 and the percentage change in price is 25%:

a) What should be the percentage change in number (Q) of students?

b) What is the expectation in number of students enrolled?

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