Question

As the price of tuition rises from $15000 to $20000, the price elasticity of demand for tuition for out-of-state applicants is _____ elastic than it is for in-state applicants.

Answer 1

More elastic.

Step-by-step explanation:

When the tuition amount increases, the out of state applicants will opt to study in their country or another country where the tuition fee is lower, most of in state applicants will have to pay the upward fees.

Answer 2

As the price of tuition rises from $15000 to $20000, the price elasticity of demand for tuition for out-of-state applicants is less elastic than it is for in-state applicants.

Step-by-step explanation:

The 'Law Of Demand' expresses that, every single other factor being equivalent, as the cost of a decent or administration expands, buyer interest for the great or administration will diminish, and the other way around.

Request flexibility is a proportion of how much the amount requested will change if another factor changes.