Answer to Question #72310 in Microeconomics for mbee

Question

Can you check if my answer is correct?
Why do you think there is such as a difference in the percentage of monthly income spent on rail travel in the UK compared with other European counties mentioned in the article?

In the UK, the British rail is privatised. Rail services in the UK have been provided by private companies. Therefore, giving them the right operate services being costly. However, in Europe, the rail service is a publicly owned system, which is cheaper.
There is no real competition in the UK rail system, commuters around the UK rely on trains to go to work. They can’t commute with alternative rail provider.

https://www.theguardian.com/business/2017/aug/15/uk-commuters-brace-rail-fares-hike-uk-inflation

Answer 1

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