If City Officials Expect That an Increase in Bus Fares

question 44

Multiple Choice

If city officials expect that an increase in bus fares will raise mass transit revenues, they must think that the demand for bus travel is

• A)elastic
• B)unit elastic
• C)inelastic
• D)perfectly inelastic
• E)-10

Apply reliability calculations to both theoretical and practical scenarios, including systems with backups and different configurations.

Recognize the significance of preventive maintenance and its impact on system reliability and maintenance costs.

Analyze the effects of maintenance policies on operational costs and system performance.

Understand the role of employee involvement and human resources in maintenance management.

---

Definitions:

Compound Return

The rate of return on an investment over a specified period, taking into account the effect of compounding, where the investment's earnings, from either capital gains or interest, are reinvested to generate additional earnings over time.

Geometric Average

A method of calculating the average rate of return of a set of values by multiplying them together and taking the nth root, where n is the number of values.

Efficient Capital Market

A market in which securities' prices fully reflect all available information, making it impossible to consistently achieve higher returns without taking additional risks.