question archive Suppose subway ridership in New York City declined by 4
Suppose subway ridership in New York City declined by 4
Subject:EconomicsPrice:2.88 Bought3
Suppose subway ridership in New York City declined by 4.3 percent after a fare increase of 25 cents to $1.50.
Using the midpoint method, an estimate of the price elasticity of demand for subway rides is _____.
True or False: According to the estimate, the Transit Authority's revenue rises when the fare increases.
a. True
b. False
