Shaina and Mariah Have a Business That Provides Personal Fitness

question 58

Multiple Choice

Shaina and Mariah have a business that provides personal fitness training services. They know that after raising their prices from $100 to $150 per hour, the quantity of hours they spent delivering training services 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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Definitions:

Disillusionment

A feeling of disappointment resulting from the discovery that something is not as good as one believed it to be.

Empower

To grant authority or power to someone, enhancing their control over their own life and decisions.

Learners

Learners are individuals who are engaged in acquiring new knowledge, behaviors, skills, values, or preferences, actively participating in educational processes.

Anticipation Stage

The period before an event occurs, marked by preparations and expectations about future developments.