Business, 02.07.2020 02:01 sum72

A private university charges the same tuition for both in-state and out-of-state students, and it notices that in-state and out-of-state students seem to respond differently to tuition changes. The quantity demanded for in-state and out-of-state students at different tuition levels is provided below. Tuition Quantity demanded (in-state applicants) Quantity demanded (out-of-state applicants) $10,000 6,000 12,000 $15,000 5,000 9,000 $20,000 4,000 6,000 $30,000 3,000 3,000 As the price of tuition rises from $20000 to $30000, the price elasticity of demand for tuition for out-of-state applicants is elastic than it is for in-state applicants. Choose one: A. more B. less Part 2 (2 points) What is the in-state elasticity and the out-of-state elasticity? Give your answer to two decimals. In state:

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A private university charges the same tuition for both in-state and out-of-state students, and it no...

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