A Study of Mass-Transit Systems in American Cities Revealed That

question 81

Multiple Choice

A study of mass-transit systems in American cities revealed that in the long run, revenues generally decline after substantial fare increases. This would suggest that

• A)the demand for mass transit is price-elastic in the long run.
• B)the demand for mass transit is price-inelastic in the long run.
• C)mass-transit service deteriorates in the long run as price rises.
• D)there are few good substitutes for such systems in urban areas.

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Definitions:

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Internet Protocol version 4, a set of rules responsible for addressing and routing data packets across networks.

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Distinct identifiers used in various contexts, such as network IP addresses, to uniquely identify entities on a network.

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The main suite of protocols used for transmitting data over the Internet; short for Transmission Control Protocol (TCP) and Internet Protocol (IP).

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