If in the Short Run the Demand for Mass Transit

question 215

Multiple Choice

If in the short run the demand for mass transit is inelastic and in the long run the demand is elastic, then a price

• A)increase will decrease total revenue in the short run but increase total revenue in the long run.
• B)increase will increase total revenue in the short run but decrease total revenue in the long run.
• C)decrease will increase total revenue in the short run but decrease total revenue in the long run.
• D)decrease will decrease total revenue in the short run and decrease total revenue in the long run.

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