What is the importance of this degree of elasticity?

The assumption that the 35% fee increase at the universities that increased fees caused an overall i Show more The assumption that the 35% fee increase at the universities that increased fees caused an overall increase in student applications of 12% at those universities that did not increase their fees. 5. What is the cross-elasticity of demand for courses at universities that did not increase their fees with respect to the price of courses at universities that did increase their fees? 6. Are courses at different universities substitutes or complements? 7. Is demand for courses at the universities that did not increase their fees elastic or inelastic with respect to universities that did increase their fees? What is the importance of this degree of elasticity? 8. Finally what are some of the factors that might cause the Minister for Education to argue that changes in demand for course are not necessarily related to the fee changes? Show less

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