Price (Pg): $10100 (tuition) Quantity: 27868 (enrollment) = -0.5 for price elasticity of demand = 2.0 for price elasticity of supply if we increase

Price (Pg): $10100 (tuition)Quantity: 27868 (enrollment)ε = -0.5 for price elasticity of demandη = 2.0 for price elasticity of supply if we increase price by 5% how much it will effect Q? and what engle curve will look like?

Price (Pg): $10100 (tuition)Quantity: 27868 (enrollment)ε = -0.5 for price elasticity of demandη = 2.0 for price elasticity of supplyif we increase price by 5% how much it will effect Q?and…