What factors do you think are responsible for this degree of elasticity?

As a policy analyst you have been asked to calculate the elasticity of demand for university courses Show more As a policy analyst you have been asked to calculate the elasticity of demand for university courses. Questions 1 to 4 are based on the assumption that the universities that increased their fees by 35% experienced an overall decrease in student applications of 7%. 1. What is the price elasticity of demand for courses at the universities that increased their fees by 35%? 2. Is the demand for these courses elastic or inelastic? 3. What factors do you think are responsible for this degree of elasticity? 4. Is tuition fee revenue likely to increase or decrease at these particular universities? Show less

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Approximately 250 words