A Public Transit Company Finds That When It Reduces the Price

question 264

Multiple Choice

A public transit company finds that when it reduces the price of a bus ticket, total revenues remain the same. One can conclude from this that:

• A) the demand curve is horizontal, reflecting infinite price elasticity.
• B) the company sells the same number of bus tickets both before and after the price change.
• C) the demand curve for bus tickets must have shifted to the right.
• D) the firm is operating in a range of the demand curve that is unit elastic.
• E) the price should be lowered further so that a larger quantity can be sold.

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Definitions:

Advertiser

An individual or company that pays to promote their product, service, or brand through various forms of media.

Publisher

An individual or company that prepares and issues books, journals, music, or software for sale.

Audience Analysis

Audience analysis is the process of examining and understanding the demographics, preferences, and behavior of a target audience to tailor content or products effectively.

Outcomes

The results or effects of actions, processes, or operations, measured in terms of success, failure, or impact.