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3.3 R and B Railroad decided to reduce their fares to see if it would help their business. They reduced their ticket prices by 25
3.3 R and B Railroad decided to reduce their fares to see if it would help their business. They reduced their ticket prices by 25 per cent on average and their revenues increased from $325,000 per month to $332,000 on average. a. Without doing any calculations, comment on the PED. b. Calculate the PED. c. R and B decided that the fare reduction was a failure; why might they have done this
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