In fall 2006, Pace University in New York raised its annual tuition from $25,000 to $29,750. Freshman enrollment declined from 1,475 in fall 2005 to 1,130 in fall 2006. Assuming that the demand curve for places in the freshmen class at Pace did not shift between 2005 and 2006, use this information to calculate the price elasticity of demand LOADING... . Use the midpoint formula in your calculation.