A recent study at a liberal arts college concluded that demand elasticity is 0.91 for college courses. The administration is considering a tuition increase to help balance the budget. An economist might advise the school to:
A.
decrease tuition in order to increase revenue by boosting enrollment.
B.
increase tuition in order to increase revenue.
C.
leave tuition unchanged as a change in tuition is unlikely to enhance the school's budget by increasing revenue.
D.
decrease tuition because demand for courses is elastic.