Author Question: If New York City expects that an increase in bus fares will raise mass transit revenues, it must ... (Read 120 times)

asan beg · **on:** Jun 30, 2018

If New York City expects that an increase in bus fares will raise mass transit revenues, it must think that the demand for bus travel is:
a. elastic.
b. unit elastic.
c. inelastic.
d. perfectly inelastic.
e. 10.

Question 2

If Stimpson University increases tuition in order to increase its revenue, it will:
a. not be successful if the demand curve slopes downward.
b. be successful if demand is elastic.
c. be successful if demand is inelastic.
d. be successful if supply is elastic.
e. be successful if supply is inelastic.