In June 2024
Answer to Question #264156 in Microeconomics for ann
If Road Transport Authority (RTA) UAE increases the bus-fare from Abu Dhabi to Dubai, then what will happen to their revenue? [Hint: the demand curve is inelastic] Explain your answer with help of a diagram
Given that the demand curve is inelastic, an increase in the bus fare will result in decrease in revenue. The diagram below provides an illustration for the same:
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#339914 on Dec 2023
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