The Fact That Travel on Buses Fell as Incomes Increased

question 114

Multiple Choice

The fact that travel on buses fell as incomes increased in many cities suggests that

• A)bus travel is a normal good
• B)the law of demand does not apply to bus travel
• C)bus travel is an inferior good
• D)there are no good substitute goods for bus travel

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Definitions:

Composition

The operation of applying one function to the result of another to produce a third function.

Function

An arrangement between inputs and a cadre of sanctioned outputs, in which every input is designated a specific output.

Inverse Function

An inverse function reverses the operation of the original function, mapping the output back to its input.

Function

An alliance between a compilation of inputs and a list of legitimate outputs, where it's mandated that each input is attributed to only one output.