In fall 2006, pace university in new york raised its annual tuition from $24,400 to $29,250. freshman enrollment declined from 1,425 in fall 2005 to 1,120 in fall 2006. assuming that the demand curve for places in the freshmen class at pace did not shift between 2005 and 2006, use this information to calculate the price elasticity of demand. the price elasticity of demand for pace university for the fall of 2006 is demand for places in pace's freshman class is price the total revenue generated from pace's freshman class in 2005 calculate the total revenue generated from pace's freshman class in 2006 the total amount of tuition pace received from its freshman class in 2006 compared with 2005