1. If the Greyhound Bus Company expects that a decrease in bus fares on its Manchester-Boston route will raise its total revenues, it must think that the demand for bus travel between Manchester and Boston is: a. elastic b. unit elastic c. inelastic

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
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Chapter5: Price Elasticity Of Demand And Supply
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1. If the Greyhound Bus Company expects that a decrease in bus fares on its
Manchester-Boston route will raise its total revenues, it must think that the demand for
bus travel between Manchester and Boston is:
a. elastic
b. unit elastic
c. inelastic
Transcribed Image Text:1. If the Greyhound Bus Company expects that a decrease in bus fares on its Manchester-Boston route will raise its total revenues, it must think that the demand for bus travel between Manchester and Boston is: a. elastic b. unit elastic c. inelastic
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