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:

Slavery Prohibition

Refers to laws or regulations enacted to abolish the practice of forcing individuals to work against their will without proper compensation.

Slave Codes

Laws that were established in the colonial and antebellum South to define the status of slaves and codify the denial of basic civil rights to enslaved people.

Interracial Marriages

Marriages between individuals of different racial backgrounds, which have historically faced legal and social challenges.

Social Standing

An individual's or group's position within a societal hierarchy, determined by factors such as wealth, occupation, education, and family background.