Explain why many gyms charge an access fee (flat rate) to access the services they provide, and then a very low or no fee for each "afternoon" the facilities are used. Reason your answer and represent graphically

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A: Check below mentation step for answer

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A: Demand Demand refers to the quantity demand for a commodity that the buyers are ready to buy at…

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Q: Problem 1 (THINK) A hotel has 140 rooms. Average room rate is $80.00. Total room revenue for the…

A: Revenue is earn by producer or seller by selling goods and services and calculate by number of goods…

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A: Price is the amount of money or other valuable consideration that is given or asked in exchange for…

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A: “Since you have posted multiple questions, we will provide the solution only to the first question…

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A: The price of a good is the monetary value of all the inputs that has been used while the production…

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A: When making decisions for a personal product, several factors have to be considered, consisting of:-

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A: Elasticity of demand is the responsiveness of quantity demanded to changes in the price.

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A: An inferior good is a financial term that portrays a good whose demand drops when individuals'…

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A: A person who immigrates to a country for the purpose of establishing a permanent residence.

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A: The selling price of 5 units (bicycle) = $300 The selling price of 6 units (bicycle) = $330

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A: Substitute goods are the pair of goods which have similar properties and thus can be used at place…

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A: Elasticity of demand, often referred to as price elasticity of demand (PED), is a measure of the…

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A: The total receips collected from the sale of goods at the market price is known as the total…

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A: Cost: It shows the monetary value of the good and services which is purchased by consumers and…