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You are an economist for the Taipei City Subway Commission. Presently, the price

熱度 1已有 83 次閱讀2023-11-3 03:25 |個人分類:答題系列| Subway, seats, elasticity, Commission, additional

【題目】 You are an economist for the Taipei City Subway Commission. Presently, the price of a subway ride is $80, and 250,000 seats are filled weekly. The income elasticity of demand is -0.60. If a recession lowered area incomes by 5%, how many additional seats per week would the subway need?
  1,000 seats
  7,500 seats
  1,500 seats
  5,000 seats


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