Suppose Inter-City Bus Travel Is a Substitute for Transportation by Train

question 329

Multiple Choice

Suppose inter-city bus travel is a substitute for transportation by train. Which of the following could then be true?

• A) The cross elasticity between bus and train travel could equal 0.65.
• B) The cross elasticity between bus and train travel could equal 1.0.
• C) The cross elasticity between bus and train travel could equal 1.25.
• D) All of the above could be true.

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