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Author Question: If total consumer expenditures (in dollars) for bus transportation were to increase when the price ... (Read 32 times)

lunatika

  • Hero Member
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  • Posts: 548
on: Jun 29, 2018
If total consumer expenditures (in dollars) for bus transportation were to increase when the price of bus transportation was raised, the demand for bus transportation probably
 
  A) had decreased.
  B) had increased.
  C) violated the law of demand.
  D) was elastic.
  E) was inelastic.

Question 2

In light of higher gas prices, Skip Miles asks himself if it's worth keeping his 10 cylinder Chevy Suburban. His concern is ultimately about
 
  A) engineering efficiency.
  B) economic efficiency.
  C) technical efficiency.
  D) environmental efficiency.


amcvicar

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Reply #1 on: Jun 29, 2018
Answer to Question 1

E

Answer to Question 2

B


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