Multiple Choice
Shaina and Mariah 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 fell from 90 to 80 hours per week. The demand for their services is:
A) inelastic, with a price elasticity coefficient greater than one.
B) inelastic, with a price elasticity coefficient less than one.
C) elastic, with a price elasticity coefficient greater than one.
D) elastic, with a price elasticity coefficient less than one.
Correct Answer:
Verified
Correct Answer:
Verified
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