A previously developed elasticity model for improvements to a transit system found a midpoint arc elasticity value of 0.38 to describe the relationship between demand increase and route mileage. The system is now planning a 60% increase in route mileage. Estimate the expected demand increase.
What will be an ideal response?
Using Equation 12.15,
The demand is expected to increase by 19.2%.
Trades & Technology
You might also like to view...
The vanes of the impellers used in circulating pumps in hot water heating systems are usually enclosed, and are referred to as ____________________ impellers.
Fill in the blank(s) with the appropriate word(s).
Trades & Technology
There is no air flow through the PCV valve when the engine is idling.
Answer the following statement true (T) or false (F)
Trades & Technology
Define the pointed part in the figure
A) a joint
B) a scab
C) a brace
D) sheathing
Trades & Technology
Taking temperature readings ranks among the most commonly performed tasks in our industry. A number of different types of thermometers are available. List three common thermometer types.
What will be an ideal response?
Trades & Technology