Business, 08.11.2019 05:31 saltytaetae

Suppose a subway line determines it can charge different prices to riders during rush hour and riders who travel on the weekend or during off-peak hours. the subway line’s goal is to increase total revenue. the price elasticity of demand for riders during rush hour is -0.70, and the price elasticity of demand for off-peak travelers is -2.10. based on the price elasticity of demand for each group of people, how should the subway line adjust its prices? choose one:

a. lower the price for off-peak travelers, and raise the price for riders during rush hour.
b. lower the price for off-peak travelers, and keep the price the same for riders during rush hour.
c. raise the price for off-peak travelers, and keep the price the same for riders during rush hour.
d. raise the price for off-peak travelers, and lower the price for riders during rush hour.

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Suppose a subway line determines it can charge different prices to riders during rush hour and rider...

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