Question: The College of Business and Aroma Therapy at the University of Phonics offers an on-line MBA program. They determine demand is given by the following

Where \(P\), is the tuition charged for the program and \(P_{x}\) is the tuition charged at the business school that competes with \(U\) of \(P\).

1. If \(\mathrm{P}=\mathrm{P}_{\mathrm{x}}=20,000\), then demand for MBA's at \(\mathrm{U}\) of \(\mathrm{P}\) will be
   \(Q=\)
2. Elasticity of demand (calculate point elasticity-that is, using the calculus based formula)
   Elasticity $=$
3. If all costs are fixed, is UP charging the correct price (write about one or two sentences explaining why.)

Price: $2.99

Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document