If a profit-maximizing restaurant is going to increase its revenues by charging senior citizens (persons age 65 and over) lower prices than other customers,
A. the demand of senior citizens for the services of the restaurant must be inelastic.
B. senior citizens must have lower incomes than other potential customers.
C. the demand of senior citizens for the services of the restaurant must be elastic.
D. senior citizens must have higher incomes than other potential customers.
E. other customers must enjoy food more than senior citizens.
Answer: C
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