If Tolls on a Toll Road Can Be Raised Significantly

question 147

Multiple Choice

If tolls on a toll road can be raised significantly before commuters will consider using a free alternative, demand for using the toll road must be

• A)inelastic.
• B)elastic.
• C)unit elastic.
• D)perfectly elastic.

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Definitions:

Phylogenetic Systematics

A method of classifying living organisms based on their evolutionary relationships, using traits inherited from common ancestors.

Derived

A term used to describe traits, characteristics, or features that have evolved in a particular species or lineage from an ancestral state, indicating evolutionary change.

Platypuses

Aquatic mammals native to Australia known for their unique characteristics such as laying eggs, having bill and webbed feet.

Therians

Mammals excluding the monotremes, comprising the live-bearing marsupials and placental mammals, characterized by traits such as viviparity and mammary glands.