Question

In one year, 15 dance studios opened in Durban. During that same year, SABC started broadcasting professional dance shows on TV, which sparked more interest in the sport. What would we expect to happen to the price and quantity of attending a dance lesson in Durban during that year?

Answer 1

Increasing number of dance studios means that people are more interested in dancing, to say more marketing strategy will also increase the number of dance studio visiters. As a result, quantity of people will growth enough, however price doesn`t really change