Ask Question
BusinessBusiness
20 January, 14:46

When a public transit system (such as a subway or bus line) raises its fares, its total revenue may increase. This suggests that demand is: price unit-elastic. price-elastic. unstable. price-inelastic.

+1
Answers (1)
  1. 20 January, 15:15
    0
    Price Inelastic

    Explanation:

    Public transport systems are a necessity which consumers are unable to do away with easily. Therefore when prices are raised consumer habits remain the same. Inelastic refers to unchanging consumer habit even when prices change.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When a public transit system (such as a subway or bus line) raises its fares, its total revenue may increase. This suggests that demand is: ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is true? A. checks and debit card board withdraw money directly from a bank account B. Checks are the most wisely excepted form of payment C. Debit cards often have a higher interest rate than credit cards D.
Answers (1)
The most important control for detecting credit card fraud is:
Answers (2)
Who eventually sued Goldman Sachs after losing millions of dollars
Answers (1)
Ryan is a manager at Steve's Stoneworks, Inc. Hersey and Blanchard would consider most of Ryan's subordinates highly ready based on their ability to perform their jobs. Based on this, which of the following leadership styles is best for Ryan? a.
Answers (1)
GN Corp. and BC Inc. are two competing firms in the same industry. GN Corp.'s tangible assets are valued at $15 billion and its intangible assets are valued at $35 billion. BC Inc.
Answers (1)
New Questions in Business
Introduction to Early Childhood The National Association for the Education of Young Children (NAEYC) statement of commitment includes all of the following obligations except A. serving as an advocate for children and their families. B.
Answers (1)
James Bright's company seeks markets all over the world and attempts to sell products that are a result of planned production for markets in various countries.
Answers (1)
Semitool Corp. has an expected excess return of 6% for next year. However, for every unexpected 1% change in the market, Semitool's return responds by a factor of 1.2.
Answers (1)
Emir Company purchased equipment that cost $110,000 cash on January 1, 2015. The equipment had an expected useful life of six years and an estimated salvage value of $8,000.
Answers (1)
How are units of alcohol measured
Answers (2)
Home » Business » When a public transit system (such as a subway or bus line) raises its fares, its total revenue may increase. This suggests that demand is: price unit-elastic. price-elastic. unstable. price-inelastic.
Sign Up Forgot Password?