A Private University Charges The Same Tuition For Both In State And Out Of State Students And It Notices That In State 1 (28.54 KiB) Viewed 10 times
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 $10,000 $15,000 $20,000 $30,000 Quantity demanded (in-state applicants) 6,000 5,000 4,000 3,000 Quantity demanded (out-of-state applicants) 12,000 9,000 6,000 3,000
What is the in-state elasticity and the out-of-state elasticity? Give your answer to two decimals. In state: Out of state:
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