Economists have estimated the following transportation, Ask an Expert

Economics

Microeconomics

Economists have estimated the following transportation elasticities. For each pair, describe possible reasons why the elasticities differ. a. elasticity of demand for buses is 0.23 during peak hours and 0.42 during off-peak hours b. elasticity of demand for buses is 0.7 in the short run and 1.5 in the long run c. elasticity or demand for toll roads is 4.7 for low-income commuters and 0.63 for high-income commuters.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M925793

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