Multiple Choice
The demand for a subway ride is probably ___________________ than is the demand for a car because ___________________.
A) less price elastic; a subway ride requires a smaller portion of one's income
B) more price elastic; a subway ride requires a smaller portion of one's income
C) less price elastic; people will take a longer time to adjust to the change in the price of a subway ride
D) more price elastic; people will take a longer time to adjust to the change in the price of a subway ride.
Correct Answer:
Verified
Correct Answer:
Verified
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