if-the-price-of-public-transportation-increases-which-of-the-following-is-a-like

Question

If the price of public transportation increases, which of the following is a likely consumer response indicating elastic demand?

Accepted Answer

Consumers switch to using bicycles or walking.

Answer

Consumers use public transportation more due to perceived environmental benefits.

Answer

Consumers continue to use public transportation at the same rate.

Answer

Consumers use public transportation less but do not substitute it with other modes.