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Jake and Jennifer Own a Business That Provides Personal Fitness

question 93

True/False

Jake and Jennifer own a business that provides personal fitness training services. After raising their prices by 10 percent, the quantity of hours they spend delivering training services fell by 6 percent. The demand for their services is price inelastic.


Definitions:

Flatworms

A group of simple, soft-bodied invertebrate animals belonging to the phylum Platyhelminthes, characterized by their flat, bilaterally symmetrical bodies and lack of specialized respiratory and circulatory systems.

Cnidarians

A phylum of aquatic animals that includes jellyfish, corals, and sea anemones, characterized by a simple body structure with a single opening.

Coral Polyps

Small, typically colonial marine organisms that are a major component of coral reefs, secreting calcium carbonate to form a hard skeleton.

Jellyfish

Gelatinous marine animals belonging to the phylum Cnidaria, known for their umbrella-shaped bodies and trailing tentacles.

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