Business travelers riding on Amtrak from Rocklin to Oakland are charged $20 for a daily pass, but on weekends the price is $5. This implies the demand curve for business travelers must be ___________ than for weekend riders. Group of answer choices less inelastic closer to perfectly elastic more inelastic more elastic
Business travelers riding on Amtrak from Rocklin to Oakland are charged $20 for a daily pass, but on weekends the price is $5. This implies the demand curve for business travelers must be ___________ than for weekend riders. Group of answer choices less inelastic closer to perfectly elastic more inelastic more elastic
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 2SQ
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Business travelers riding on Amtrak from Rocklin to Oakland are charged $20 for a daily pass, but on weekends the price is $5. This implies the demand curve for business travelers must be ___________ than for weekend riders.
Group of answer choices
less inelastic
closer to perfectly elastic
more inelastic
more elastic
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