Table 5-1

-Refer to Table 5-1.Which of the following is consistent with the elasticities given in Table 5-2?

Question

Table 5-1
 
-Refer to Table 5-1.Which of the following is consistent with the elasticities given in Table 5-2?

Quizplus · Accepted Answer

Table 5-2 shows that the elasticity of demand for train tickets decreased after cars were invented (-0.5 vs. -1.5), which is consistent with A being train tickets before cars were invented and B being train tickets after cars were invented. The other answer choices do not have consistent elasticity values with Table 5-2.

Table 5-1 -Refer to Table 5-1.Which of the Following Is Consistent with Following