A study of about 1800 U.S. colleges and universities resulted in the demand equation $q = 11,684 - 2.3 p$
Where q is the enrollment at a college or university and p is the average annual tuition (plus fees) it charges. The study also found that the average tuition charged by universities and colleges was $2,771. What is the corresponding elasticity of demand Round your answer to the two decimal places.

A)0.72
B) 2.40
C) -1.20
D) 1.80
E) 1.20

Question

A study of about 1800 U.S. colleges and universities resulted in the demand equation  $q = 11,684 - 2.3 p$ 
Where q is the enrollment at a college or university and p is the average annual tuition (plus fees) it charges. The study also found that the average tuition charged by universities and colleges was $2,771. What is the corresponding elasticity of demand  Round your answer to the two decimal places.
 
A)0.72
B) 2.40
C) -1.20
D) 1.80
E) 1.20

Quizplus · Accepted Answer

The Answer of A study of about 1800 U.S. colleges and universities resulted in the demand equation  $q = 11,684 - 2.3 p$ 
Where q is the enrollment at a college or university and p is the average annual tuition (plus fees) it charges. The study also found that the average tuition charged by universities and colleges was $2,771. What is the corresponding elasticity of demand  Round your answer to the two decimal places.
 
A)0.72
B) 2.40
C) -1.20
D) 1.80
E) 1.20

A Study of About 1800 U q=11,684−2.3pq = 11,684 - 2.3 pq=11,684−2.3p

A Study of About 1800 U $q = 11,684 - 2.3 p$