Economics 9708 · AS & A Level · Price elasticity of demand

Price elasticity of demand — practice question

The table shows estimated price elasticities and cross elasticities of demand for bus and rail travel. What change would occur in the volume of rail travel if bus fares rose by 1 %?

  • Aan increase of 0.16 %
  • Ban increase of 0.43 %
  • Ca reduction of 0.13 %
  • Da reduction of 0.37 %

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