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.
Correct Answer:
Verified
Correct Answer:
Verified
Q54: Bailey's Barber Shop knows that a 5%
Q80: Good A has an income elasticity equal
Q109: The longer the time period considered, the
Q115: An increase in demand will increase the
Q171: Assume an industry initially in equilibrium has
Q180: The following schedule represents a portion of
Q182: If the demand is perfectly inelastic,what would
Q187: Exhibit 6-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2081/.jpg" alt="Exhibit 6-4
Q189: If Pizza Hut decreases its price for
Q194: A jeweler cut prices in his store