A subway ride is than a car because a. more price elastic: it is a smaller part of one's income. b. less price elastic; it is a smaller part of one's income. c. less price elastic; people will have a shorter time to adjust to the change in its price. d. more price elastic: people will have a longer time to adjust to the change in its price.

A subway ride is than a car because a. more price elastic: it is a smaller part of one's income. b. less price elastic; it is a smaller part of one's income. c. less price elastic; people will have a shorter time to adjust to the change in its price. d. more price elastic: people will have a longer time to adjust to the change in its price.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 28CTQ: Would you expect supply to play a more significant role in determining the price of a basic...

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