A college raises its annual tuition from $2,000 to $2,500, and its student enrollment falls from 4,877 to 4,705. The price elasticity of demand between these two prices is a) 0.16 b) 0.47 c) 2.13 d)
Options:
a) 0.16
b) 0.47
c) 2.13
d) Insufficient information