increases in the price of gasoline have led taxi drivers to increase taxi fares in the hope that their revenues will rise. evaluate their decision on economic grounds.

Question

21-11-2022
Business

contestada

increases in the price of gasoline have led taxi drivers to increase taxi fares in the hope that their revenues will rise. evaluate their decision on economic grounds.

Respuesta :

Otras preguntas

Which of the following is a building block of neoclassical economics? A. the size of the economy is determined by real GDPB. sticky wages and pricesC. aggregate

the flat bottom boat is traveling at 15 m/s on a lake for which the water temperature is 15 c the length of the boat is 10 m and its width is 2.5 m assume the b

For first round VCs, using DCF methodology to estimate IPO exit valuation of a portfolio firm, it must consider all expected cash flow estimates starting from t

A turbojet aircraft is flying with a velocity of 320 m/s at an altitude of 9150 m. where the ambient conditions are 32 kPa and -32 degree C. The pressure ratio

the dream collector by arthur tress name: date: period: pages 83-86 use this chart to create your own organizer, use a ruler, and write neatly

Drag the resting membrane determinants to their appropriate locations in the figure. Answers may be used once, or not at all. Drag the appropriate labels to the

Add a third force that will cause the object to remain at rest. Label the new force.

Check my work Be sure to answer all parts. Show the mechanism of how the starting aldehyde is converted to the enol form using mechanism arrows and showing all

For compounds ch3ch2ch2ch2ch3 and ch3ch2ch2ch2ch2ch3 , indicate the type of forces that are involved.

Triangle abc was dilated using the rule do,4. Triangle a'b'c' is the result of the dilation. Point o is the center of dilation. Triangle a b c is dilated to cre

SakshTiwari353 SakshTiwari353 · Answer 1 · 2022-11-23T20:18:47+01:00

Decision based on cost Taxi elasticity involves XED value: Petrol price increases result in a shift in the demand for taxi drivers.

Briefing:-

They complement each other (negative XED value), the price is inelastic, and an increase in price has little to no impact on the demand for taxis.

However, if XED: elastic, a price rise will result in lower revenue as demand declines.

Smart choice if the reality of taxi services is that they are inelastic: alternatives (cars/Uber), which are likely to be elastic, = not a good choice.

What effect does the rise in fuel prices have on the economy?

Transport costs: As fuel prices rise, the cost of running bus and taxi services will also rise. The consumer pays for these expenses. Consumer goods: A rise in the cost of fuel has an impact on everything from product prices to logistical expenses.

To Know more about taxi drivers.

https://brainly.com/question/23936041

#SPJ4