Know that the far increase on cable car rides

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Reference no: EM1320269

Q. Illustrate what is the price elasticity of demand for a cable car ride?

Know that the far increase on cable car rides was 67%. Price is $5 one way. Prices were raised to help ease a $57 million deficit. Bus also street car fares also went up $0.25 also $1.50 respectively. Cable car fares more than doubled. It costs $312/hour to operate the cable cares compared to the $188 for a street car ride also $121 for a diesel bus. As a result, cable care revenue is up 23%.

Reference no: EM1320269

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