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Question One You university you attend need to increase total revenue. The president suggests that by raising tuition by 10% total revenue will increase. However,

Question One You university you attend need to increase total revenue. The president suggests that by raising tuition by 10% total revenue will increase. However, after the tuition increases, total revenue actually fell. a. What can you infer about the price elasticity of demand for an education at your institution? 5 marks b. Why is your answer to "a" above likely to be true? 5 marks

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