The demand for a subway ride is probably ___________________ than is the demand for a car because ___________________.
A) less price elastic; a subway ride requires a smaller portion of one's income
B) more price elastic; a subway ride requires a smaller portion of one's income
C) less price elastic; people will take a longer time to adjust to the change in the price of a subway ride
D) more price elastic; people will take a longer time to adjust to the change in the price of a subway ride.

Question

Quizplus · Accepted Answer

The demand for a subway ride is less price elastic because it typically requires a smaller portion of one's income compared to owning and maintaining a car.

The Demand for a Subway Ride Is Probably ___________________ Than