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Answer to Question #69230 in Microeconomics for Helen

Question #69230
Suppose city bus raised the bus fare by 7%. With the aid of a diagram under what condition the total expenditure of passengers on the bus services will decrease because of the rise in fare.
Expert's answer
If city bus raised the bus fare by 7%, then the total expenditure of passengers on the bus services will decrease, if the bus service is elastic product.

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