Price Is a Concept Relating to How Post-Deregulation Transportation Firm,determine

question 6

Multiple Choice

Price is a concept relating to how post-deregulation transportation firm,determine and impose charges for their services.Which is a distinguishing feature of this concept of price?

• A) the amount found in a Tariff Book as payment to a carrier for performing a transport service
• B) a lawful charge imposed by a carrier on a commodity movement
• C) a value or level that is determined based on prevailing market forces
• D) a charge determined primarily by considering a carrier's costs only

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.

Perfectly Elastic

A demand situation where a small change in price leads to an infinite change in the quantity demanded.

Price-Elasticity Of Demand

A way to quantify the effect price changes have on the demand for a good.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price within a specified period.