The Response in Quantity Demanded to a Price Increase in Subway

question 30

Multiple Choice

The response in quantity demanded to a price increase in subway rides:

• A) will be more elastic in six weeks than in six months.
• B) will be less elastic in six weeks than in six months.
• C) will be the same over that time period.
• D) is unpredictable without more information.

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Definitions:

Quick Release Gladhand

A coupling device for connecting the brake lines between a truck and trailer, designed for quick and easy connection and disconnection.

Slack Adjusters

Mechanical devices in air brake systems that maintain the correct distance between the brake shoes and the drum as the shoes wear.

Secondary Circuit

In brake systems refers to the following circuit in the system usually actuated by the primary circuit. In hydraulic brake systems on straight trucks, this is usually the rear brake circuit, whereas on large trucks with air brakes, it refers to the brakes on the steering axle wheels.

Relay Valve

A component in pneumatic systems that speeds up the build-up and release of air pressure in brake systems, ensuring faster response times.