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MetroTRANSIT carries 10,000 passengers a day along its high speed train line to the airport. A ticket on the line currently costs $4.00. In an
MetroTRANSIT carries 10,000 passengers a day along its high speed train line to the airport. A ticket on the line currently costs $4.00. In an effort to raise more revenue, management at MetroTRANSIT is considering raising the fare to $4.20. An economist with MetroTRANSIT estimates the demand elasticity for the train is anywhere between .85 and 1.20. Base on this information, after raising the price, daily ticket revenue (price x number of passengers) will be (record your answer without a comma and without a dollar sign) A. As low as ___ __ dollars. B. Has high as _ ___ dollars
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