Bubba's Hula Shack bar and bistro has begun giving customers who can show proof that they arrived at the establishment by public transportation a 10 percent discount on their total bill
All else equal, customers who arrive by public transportation to take advantage of Bubba's Hula Shack discount have a ________ for the services of the establishment than customers who drive to the establishment.
A) higher price elasticity of supply B) lower price elasticity of supply
C) lower price elasticity of demand D) higher price elasticity of demand
D
You might also like to view...
Marginal cost can be expressed as the ration of the price of labor and the Marginal Product of Labor
a. only when labor is held constant. b. only when labor is the only variable input. c. wether labor is held constant or not. d. never.
A Gini coefficient of one indicates
a. the richest 10 percent of the people control 90 percent of the economy's income b. the poorest 10 percent of the people control 1 percent of the economy's income c. 50 percent of the people control 50 percent of the income d. perfect income equality e. perfect income inequality
Refer to the following table showing a monopolist's demand schedule: 
If price falls from $20 to $10, then
A. MR = -$30, and demand is inelastic. B. MR = -$10, and demand is inelastic. C. MR = $30, and demand is elastic. D. MR = $10, and demand is elastic. E. none of the above
Bob is unemployed because his skills have become obsolete due to technological advances. This is ____ unemployment.
A. frictional B. structural C. cyclical D. seasonal