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You are on the manager of NYC Transit Authority with the responsibility to decrease annual Bus and Subway fares

Economics

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You are on the manager of NYC Transit Authority with the responsibility to decrease annual Bus and Subway fares. You would recommend a decrease in the annual fares only if you thought the demand curve for the City Bus and Subway system was:

a. Inelastic

b. Elastic

c. Unitary elastic

d. Perfectly elastic