Suppose a university rises its tuition from $3,000 to $3,500. As a result, student enrollment falls from 5,000 to 4,500. Calculate the price elasticity of demand. Is demand elastic, unitary, or inelastic.

To calculate an elasticity coefficient of demand, we need to Divide the percentage change in the price by the percentage change in the quantity demanded Multiply the percentage change in the quantity demanded by the percentage change in the price Know the slope of the demand curve Multiply the percentage change in the price by the percentage change in the quantity demanded

Consider the following demand schedule for movie tickets.  Suppose the price of a movie ticket falls from $9 to $7. Calculate the price of elasticity of demand and identify the type of elasticity.

The demand for hair dryers is described by the following function: P= 240-5Qd If the price is $185, what is the quantity demanded? If the price is $185, what is the total revenue? If the price is $175, what is the quantity demanded? If the price is $175, what is total revenue? Compute the price elasticity of demand at the average price of $180.