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Anybody that has ever taken a 101 economics class knows this is true. Look up elasticity of demand.
by hyperhopper 3y ago
Anybody that has ever taken a 101 economics class knows this is true.
Look up elasticity of demand.
- qwytw 3y ago> Anybody that has ever taken a 101 economics class knows this is true. The first 20 minutes of one? i.e. before arriving at concept of 'marginal cost' also I doubt demand for public transport is necessarily that elastic, short term anyway. As the article says traffic for regional trains only increased by 25% despite the price decreasing much more than that (e.g. a single day ticket previously cost 20-50 euros depending on area).