Which group has a more elastic demand

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Using the mid-point formula, please answer the following questions: A private university notices that in-state and out-of-state students seem to respond differently to tuition changes. Tuition Qd (in-state students) Qd (out of state students) $10,000 6,000 12,000 $15,000 5,000 9,000 $20,000 4,000 6,000 $30,000 3,000 3,000 As the price rises from $15,000 to $20,000- what is the price elasticity of demand for in-state students? What is it for out-of-state students? Which group has a more elastic demand?

Reference no: EM131090889

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