Increase In Bus Fare Between Abu Dhabi And Dubai Inelastic Demand Curve
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Question
If RTA increases the bus-fare from Abu Dhabi to Dubai, then what will happen to their revenue? [Hint: the demand curve is inelastic] Explain your answer with help of a diagram.
Summary
The question belongs to Economics, Micro-economics and it discusses, if bus fares from Abu Dhabi to Dubai increase, what will happen to the revenue of RTA. This has been explained in the solution.
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