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#3 Ridership on public transit systems fell during the pandemic. Transit systems typically face large fixed costs (trains, drivers etc.) with limited options to reduce
#3 Ridership on public transit systems fell during the pandemic. Transit systems typically face large fixed costs (trains, drivers etc.) with limited options to reduce services (i.e., cut costs) so their problem can be viewed as one of insufcient revenues. There are now calls to cut subway fares in the hope that this would stimulate demand for public transit. Suppose you are advising a transit system for a large city. Their recent experience is that when the price of a single rise was increased by 25 cents to $1.50, ridership declined by 4.3%. Based on this information what would suggest the transit system do
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