Increase In Bus Fare Between Abu Dhabi And Dubai Inelastic Demand Curve

Question

If RTA increases the bus-fare from Abu Dhabi to Dubai, then what will happen to their revenue? [Hint: the demand curve is inelastic] Explain your answer with help of a diagram.

Summary

The question belongs to Economics, Micro-economics and it discusses, if bus fares from Abu Dhabi to Dubai increase, what will happen to the revenue of RTA. This has been explained in the solution.

Total Word Count 233

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    Giuseppe

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