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The MTA did a study on Cross Price Elasticity ( E x ) to determine the sensitivity of MTA ridership to fees charged by Uber

  1. The MTA did a study on Cross Price Elasticity (Ex) to determine the sensitivity of MTA ridership to fees charged by Uber and Lyft. The study revealed this value:

Ex = +1.82

Given the above Ex value, should the MTA managers be concerned about its own ridership if Uber and Lyft both announce considerable fee decreases for their services? Why? Defend your answer.

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