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Elasticity

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Question 40

A regional transport authority finds that a 15% increase in the price of commuter train tickets leads to a 3% increase in the quantity demanded of daily bus passes.

Based on this information, what is the economic relationship between commuter train tickets and daily bus passes?

Weak substitutes

Strong substitutes

Weak complements

Strong complements

Elasticity Questions

  1. A Level
  2. /Economics
  3. /Elasticity