Ask Question
30 July, 07:16

Suppose that the price of a subway ride rises from $2.00 to $2.50. Because driving a car and taking the subway are, an increase in the price of a subway ride shifts the demand curve for sedans to th

+1
Answers (1)
  1. 30 July, 07:33
    0
    Answer: Substitutes, Right

    Explanation: Driving a car and subway rides are substitutes to each other. When the price of one substitute good rises, the demand for the other substitute good also rise. So, when price of subway rides rises, driving a car becomes relatively less expensive. So, demand for driving a car will increase and the demand curve will shift to the right, driving up the price and quantity of driving a car.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose that the price of a subway ride rises from $2.00 to $2.50. Because driving a car and taking the subway are, an increase in the ...” 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