One year, the government boosted regulated taxi fares in New York City by 15 percent with the expectation that the total revenue from taxi rides would also increase by 15 percent
The taxi commission that authorized this fare increase must have believed that the demand for taxi service was A) elastic, but not perfectly elastic.
B) inelastic, but not perfectly inelastic.
C) unit elastic.
D) perfectly inelastic.
D
Economics
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Which of the following is NOT a major actor in the foreign exchange market?
A) corporations B) central banks C) commercial banks D) non-bank financial institutions E) tourists
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In a model with money neutrality, a 10% increase in the money supply leads to an increase of output by
A) more than 10%. B) 10%. C) less than 10%, but more than zero. D) zero.
Economics