You Would Expect the Price Elasticity of Demand for Transportation

question 119

Multiple Choice

You would expect the price elasticity of demand for transportation generally to be:

• A)the same as price elasticity of the demand for bus tickets.
• B)greater than price elasticity of the demand for bus tickets.
• C)less than price elasticity of the demand for bus tickets.
• D)greater than price elasticity of the demand for bus tickets when bus tickets are expensive, but less than price elasticity of the demand for bus tickets when the prices of bus tickets fall.

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Businesses that purchase goods or services for use in the production of other products or services, rather than for resale.

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