In the mid-1970s, Newsweek magazine reported that the city of Atlanta lowered its city bus fares from 40 cents to 15 cents a passenger. The number of bus riders increased by 15 percent after the fare cut
This set of results indicates that the demand for bus rides in Atlanta at that time was A) unit elastic.
B) perfectly inelastic.
C) elastic.
D) inelastic.
E) perfectly elastic.
D
Economics
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Identify the four factors of production, and tell what type of income is earned by each factor
What will be an ideal response?
Economics
Identify the correct statement
a. Autonomous consumption equals saving when disposable income is equal to zero. b. Saving is equal to consumption when autonomous consumption is zero. c. The savings function always has a positive intercept when autonomous consumption is positive. d. The consumption and saving function intersect each other when disposable income is zero. e. Autonomous consumption is positive even when disposable income is zero.
Economics