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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Definitions:

Drumlin

A commonly teardrop-shaped hill formed when a glacier reshapes glacial deposits.

Roché Moutonnée

A rock formation created by glacial erosion that leaves one side of the rock smooth and polished and the other rugged and plucked.

Esker

A long, narrow, sinuous ridge composed of sediment deposited by a stream flowing within or beneath a glacier.

Kame

A geological feature that consists of an irregularly shaped hill or mound composed of sand, gravel, and till, deposited by a melting glacier.