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If the demand for transportation is described as inelastic, which means: Increases in freight rates have little effect on demand O Reductions in freight

If the demand for transportation is described as "inelastic", which means: Increases in freight rates have little effect on demand O Reductions in freight rates have a large effect on demand Demand for transportation does not change much over time O Transportation has a hard time "stretching" to cover demand O There is little inter-modal competition

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