Spin-bike gyms in FitCity currently charge $20 per spin class. Local entrepreneurs Elizabeth and Julie decide to launch their own spin-bike gym, which would charge a fixed monthly fee with no additional per class fees. Based on data revealing that, on average, spin-bike gym members attend 8 spin classes per month, Elizabeth and Julie believe a monthly fee of $160 would earn them a modest profit. How do you expect their venture will do? Explain using economic concepts