Multiple Choice
Suppose inter-city bus travel is a substitute for transportation by train. Which of the following could then be true?
A) The cross elasticity between bus and train travel could equal 0.65.
B) The cross elasticity between bus and train travel could equal 1.0.
C) The cross elasticity between bus and train travel could equal 1.25.
D) All of the above could be true.
Correct Answer:
Verified
Correct Answer:
Verified
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