When tolls on the Dulles Airport Greenway were reduced from $1.75 to $1.00, traffic increased from 10,000
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When tolls on the Dulles Airport Greenway were reduced from $1.75 to $1.00, traffic increased from 10,000 to 26,000 trips a day. Assuming all changes in quantity were due to the change in price, what is the price elasticity of demand for the Dulles Airport Greenway?
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Price elasticity of demand change in quantity demanded change in price We can calculate it stepbyste...View the full answer
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