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July 30, 2014

Homework Help: high school economics - elasticity

Posted by amy on Thursday, March 25, 2010 at 9:06pm.

What can you conclude about elasticity of demand for rail service:

Rail service has always been a losing proposition in Canada. Regardless of how much we raise our prices, we will never earn enough revenue to earn a profit.

This is confusing because I dont know if they are saying if revenue is actually going up or not. If it is, then it's inelastic for sure.

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