The Demand for a Subway Ride Is Probably ___________________ Than

question 134

Multiple Choice

The demand for a subway ride is probably ___________________ than is the demand for a car because ___________________.

• A) less price elastic; a subway ride requires a smaller portion of one's income
• B) more price elastic; a subway ride requires a smaller portion of one's income
• C) less price elastic; people will take a longer time to adjust to the change in the price of a subway ride
• D) more price elastic; people will take a longer time to adjust to the change in the price of a subway ride.

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Definitions:

Forecast

A prediction or estimate of future events or conditions based on available data or trends.

Supply Chain

The network of all the individuals, organizations, resources, activities, and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, and eventually to the end user.

Distortion

Alteration or warping of information, perception, or reality, often leading to misunderstanding or misinterpretation.

Information Received

The data or input obtained by an individual or organization, potentially influencing decision-making or actions.