If the Bus Fare of a City Increases from $1

question 106

Multiple Choice

If the bus fare of a city increases from $1.00 to $1.25 per ride and as a result total revenue increases, then we know that

• A) percentage change in fare is less than percentage change in number of rides.
• B) percentage change in fare is greater than percentage change in number of rides.
• C) percentage change in fare is equal to the percentage change in number of rides.
• D) it is impossible to tell.

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Definitions:

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Bankers Trust

was a historic American banking organization that was absorbed by Deutsche Bank in 1999, known for its role in financial services and investment banking.

Assets

Economic resources or owned items of value that an individual, corporation, or country possesses, expected to provide future benefits.