微信扫一扫
实时资讯全掌握
| The market demand function for four-year private universities is given by the equation Q pr= 84-3.1Ppr +0.8 I +0.9Ppu Where Q pr is the number of applications to private universities per year in thousands, P pr is the average price of private universities (in thousands of USD), I is the house-hold monthly income (in thousands of USD), and P pu is the average price of public(government-supported) universities (in thousands of USD). Assume that P pr is equal to 38, I is equal to 100, and Ppu is equal to 18. The price elasticity of demand for private universities is closest to: A. -3. 1. B. -1.9. C. 0.6. |