Elasticity of Demand for Bus Services Is 0

question 60

Multiple Choice

Elasticity of demand for bus services is 0.23 for the peak hours and 0.42 for off-peak hours. The same percentage increase in price would:

• A) lower revenues for both, but more for peak hours.
• B) raise revenues for both, but more for peak hours.
• C) raise revenue for peak hours but lower revenue for off-peak hours.
• D) lower revenue for peak hours but raise revenue for off-peak hours.

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Definitions:

Perception

The cognitive process that interprets and gives meaning to sensory information, shaping how one understands their environment and experiences.

Interpersonal Skills

Abilities used to effectively communicate, interact, and work with individuals and groups.

Assertiveness

The quality of being self-assured and confident without being aggressive, allowing an individual to express their thoughts and feelings in a respectful manner.

Warmth

The quality or state of being pleasantly hot or comfortable in temperature.