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Retnec Retnec
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6 years ago
If the demand for subway tickets is inelastic, then
A) an increase in the price of subway tickets will lead to a reduction in the quantity of subway tickets demanded, and the subway's total revenue will fall.
B) a decrease in the price of subway tickets will result in no change in the number of subway tickets demanded, but the subway's total revenue will fall.
C) an increase in the price of subway tickets will lead to a reduction in the quantity of subway tickets demanded, but the subway's total revenue will rise.
D) a decrease in the price of subway tickets will lead to an increase in the quantity of subway tickets demanded, and the subway's total revenue will rise.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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hecosmetichecosmetic
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Retnec Author
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#2
6 years ago
My exam's next week!

Perfect timing
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