Mass -Transit Systems Include All of the Following EXCEPT ________________

question 5

Multiple Choice

Mass -transit systems include all of the following EXCEPT ________________.

• A)taxicabs
• B)buses
• C)light rail
• D)subways
• E)commuter rail

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Definitions:

Fixed Cost

Costs that do not change with the level of output, such as rent or salaries.

Cartel

A formal agreement among competing firms to control prices or exclude entry of a new competitor in the market, often resulting in higher prices.

Marginal Cost

Marginal Cost is the cost of producing one more unit of a good or service, a crucial concept in economics for decision-making and pricing strategies.

Cartel

A formal agreement among competing firms in an industry to control prices, limit output, or divide markets.