The aggregate demand for transportation service is said to be inelastic while the demand for an individual mode or carrier is often elastic. Explain why this is important to carriers and shippers.
Answer to relevant QuestionsExplain the concept of total landed cost as it related to transportation. How does it influence market boundaries? “Improved transportation systems can also have social and political significance.” Explain. “Transportation patterns reflect the flow of people and commerce.” Explain that statement and its significance for transportation systems. How do the police powers of the Constitution affect transportation? Why were tariffs created? Are they still useful in today’s transportation environment?
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