Engineering, 27.11.2020 23:10 rosanaboyd7
An aggregate demand function for a rail transit service from a suburb to downtown is represented by the equation
V = 500 – 20p2, where V is the number of trips made per hour and p is the trip fare. At a certain time when the price was $1.50, 2,000 trips were made.
What is the elasticity of rail transit demand with respect to price?
Answers: 1
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An aggregate demand function for a rail transit service from a suburb to downtown is represented by...
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