If a Profit-Maximizing Restaurant Is Going to Increase Its Revenues

question 64

Multiple Choice

If a profit-maximizing restaurant is going to increase its revenues by charging senior citizens (persons age 65 and over) lower prices than other customers,

• A) the demand of senior citizens for the services of the restaurant must be inelastic.
• B) senior citizens must have lower incomes than other potential customers.
• C) the demand of senior citizens for the services of the restaurant must be elastic.
• D) senior citizens must have higher incomes than other potential customers.
• E) other customers must enjoy food more than senior citizens.

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