The price of a bus ride decreases, and the total revenue of the bus company decreases. The demand for bus rides is ________
A) perfectly elastic
B) inelastic
C) unit elastic
D) elastic but not necessarily perfectly elastic
B
Economics
You might also like to view...
In the above figure, what is the equilibrium level of real consumption spending?
A) $3.0 trillion B) $0.0 trillion C) $1.0 trillion D) $2.0 trillion
Economics
Which of the following is considered a default-risk-free instrument?
A) a three-month commercial paper issued by GE B) a share of stock issued by Google C) a three-month Treasury bill D) a ten-year bond issued by Intel
Economics