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Shanequa and Mya Have a Business That Provides Personal Fitness

Question 185

Multiple Choice

Shanequa and Mya have a business that provides personal fitness training services.They know that after raising their prices from $50 to $75 per hour,the quantity of hours they spent delivering training services only fell from 45 to 40 hours per week.The demand for their services is:


A) elastic, with a price elasticity coefficient greater than one.
B) elastic, with a price elasticity coefficient less than one.
C) inelastic, with a price elasticity coefficient greater than one.
D) inelastic, with a price elasticity coefficient less than one.

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