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Lauren1 Lauren1
wrote...
Posts: 4120
9 years ago
One year, the government boosted regulated taxi fares in New York City by 15 percent with the expectation that the total revenue from taxi rides would also increase by 15 percent. The taxi commission that authorized this fare increase must have believed that the demand for taxi service was
A) elastic, but not perfectly elastic.
B) inelastic, but not perfectly inelastic.
C) unit elastic.
D) perfectly inelastic.
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Answer accepted by topic starter
MrDerecheMrDereche
wrote...
Top Poster
Posts: 4095
9 years ago
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Lauren1 Author
wrote...
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
9 years ago
You're welcome!
wrote...
2 years ago
thanks
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