Question 3 (1 point) Suppose VIA Rail applies for permission to increase its commuter fares by 20%. The railway argues that declining revenues make this increase essential. Opponents of the proposed fare hike contend that the railway's revenue will fall because of the increase. Thus it may be surmised that: (a) VIA feels the demand for passenger service is inelastic while those opposed to the fare increase feel it is elastic O b) both feel that demand is inelastic but for different reasons ( c) the railway feels that demand is elastic while their opponents that it is inelastic O d) both feel that demand is elastic but for different reasons Question 4 (1 point) Saved OUTPUT TOTAL COST 0 $13