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Author Question: In the mid-1970s, Newsweek magazine reported that the city of Atlanta lowered its city bus fares ... (Read 57 times)

urbanoutfitters

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In the mid-1970s, Newsweek magazine reported that the city of Atlanta lowered its city bus fares from 40 cents to 15 cents a passenger. The number of bus riders increased by 15 percent after the fare cut. This set of results indicates that the demand for bus rides in Atlanta at that time was
◦ unit elastic.
◦ perfectly inelastic.
◦ elastic.
◦ inelastic.
◦ perfectly elastic.


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Marked as best answer by urbanoutfitters on May 24, 2019

aprice35067

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