Suppose a salon owner notices that their pedicures are very popular with customers. The owner decides to double of the price of the pedicure in order to raise more revenue. Which of the following statements is most likely to be true?

Question

Quizplus · Accepted Answer

Typically, increasing the price of a good or service will decrease the quantity demaded for it. This means that the salon may not sell as many pedicures as before, and their revenue may not double. Therefore, option C is the most likely outcome.

Suppose a Salon Owner Notices That Their Pedicures Are Very