Officials at city bus corporation increased fares

Reference no: EM131009492

Officials at City Bus Corporation increased fares(prices last year and were surprised to find that total revenue fell that year instead of increasingas expected. This tells us that

A) the demand for bus rides is income elastic.

B) the demand for bus rides is price inelastic.

C) the demand for bus rides is price elastic.

D) bus rides are inferior goods.

E) someone at City Bus Corp. is embezzling funds because a fare increase should havemeant an increase in total revenue.

Reference no: EM131009492

Questions Cloud

Relationship to healthcare organizations : Identify external competitive forces in relationship to healthcare organizations. Why is it important to know what external competitive forces are or who they are? Relate external competitive forces to a strategic plan.

Determining the relationship to healthcare organizations : Identify external competitive forces in relationship to healthcare organizations. Why is it important to know what external competitive forces are or who they are? Relate external competitive forces to a strategic plan.

The fundamental theorem of welfare economics : The Fundamental Theorem of Welfare Economics tells us, roughly, A) that high welfares are very important to the individuals who live in an advanced economy. B) that you cannot have more of one thing without having less of at least one other thing.

What is your role in the decision-making processes : In this situation, what is your role in the decision-making processes that serve to establish an organizational climate oriented to meet business goals

Officials at city bus corporation increased fares : Officials at City Bus Corporation increased fares(prices last year and were surprised to find that total revenue fell that year instead of increasingas expected. This tells us that

What is the significance of the case : What is the significance of the case? What impact has this case had on the Court, its processes, litigants, government, or society? This analysis is your interpretation and not a summary.

Determine the station speed of the company : Determine the station speed of the company's assembly line assuming that it is set for the operator whose pace is 85% of average (Z value for 85% or 15%=1.04 or, -1.04).

Quantity demanded : Unlike an increase in the "quantity demanded" of a good, an increase in demand for a good A)can be caused by a reduction in the price of an input used to produce the good. B)can be caused by a decline in the "own price" of that good.

User Account

All Pages