If the Managers of the Miami Transit Authority (MTA) Raise

question 208

Multiple Choice

If the managers of the Miami Transit Authority (MTA) raise the fare from $2.00 to $2.25 per ride and, as a result, total revenue increases, then we know that the demand for rides is

• A) price inelastic.
• B) price elastic.
• C) unitary elastic.
• D) is perfectly elastic.

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