Sls gym holds a hot yoga class with space for 20 people


Sal's gym holds a hot yoga class with space for 20 people. When the price is $4.50, the class fills up completely. Seeing the desire, Sal raises the price to $5.50. But only 10 people come to the next class. What is the price elasticity of demand for the hot yoga class?

a) 0.20

b) 0.50

c) 3.33

d) 2.50

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Macroeconomics: Sls gym holds a hot yoga class with space for 20 people
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