Do the data imply that train travel is a substitute for or a complement of travel by

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◆ Do the data imply that train travel is a substitute for or a complement of travel by car?

More People Take the Train During 2011 and 2012, as the price of petrol kept rising, more and more people switched to travelling by train, despite stagnant incomes and a rise in the price of train tickets.

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Economics

ISBN: 9781118150122

10th European Edition

Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews

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Question Posted: Nov 06, 2024 02:00 AM

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Do the data imply that train travel is a substitute for or a complement of travel by

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The Data Time period Passengers (billions of kilometres per quarter) Average income ( per week) Price of train travel (pence per kilometre) 2011 Q2 2012 Q2 13.7 14.6 492 488 12.6 13.0

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Economics

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