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Answer to Question #69230 in Microeconomics for Helen

Question #69230
Suppose city bus raised the bus fare by 7%. With the aid of a diagram under what condition the total expenditure of passengers on the bus services will decrease because of the rise in fare.
1
Expert's answer
2017-07-11T03:32:06-0400
If city bus raised the bus fare by 7%, then the total expenditure of passengers on the bus services will decrease, if the bus service is elastic product.

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