Effects of Price Increase on Monthly Memberships

What will most likely occur after the price of a monthly membership increases?

Check all that apply:

• Current members will pay more per month.
• Demand for memberships will decrease.
• The number of available memberships will increase.
• The owner will make more money.
• Bond’s Gym will receive more membership applications.

Correct answer choices are:

• Current members will pay more per month.
• Demand for memberships will decrease.
• The owner will make more money.

The effects of a price increase on monthly membership are:

• Current members will pay more per month.
• Demand for memberships will decrease.
• The owner will make more money.

The increase in price

The increase in the price of a commodity relative to its demand. When a commodity or service is increased in price, the effects are:

• Less people would want that good.
• The owners of the commodity would make more money if people continue to use that good.
• The people that already use the good would have to increase what they pay for it.