if education r us university thought that it faced an inelastic demand for the regular academic year but an elastic demand for summer school, and it wanted to increase its total tuition revenue, it would want tuition in the regular academic year and tuition for summer school

The correct answer is: increase; decrease.

Explanation:

Education R Us University wants to increase its total tuition revenue.

It faces an inelastic demand for the regular academic year but an elastic demand for summer school.

Inelastic demand means that a change in the price will cause less than proportionate change in quantity demanded.

Since the demand for the regular academic year is inelastic, an increase in tuition will cause less than a proportionate decrease in its demand. So this will cause revenue to increase.

Elastic demand means that a change in the price level will cause more than proportionate change in the quantity demanded.

Since the demand for summer school is elastic, a decrease in tuition will cause the demand to increase more than proportionate. This will cause tuition revenue to increase.

the best answer is b.

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