If taxi fares in a city rise, what will happen to the total revenue received by taxi

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If taxi fares in a city rise, what will happen to the total revenue received by taxi operators? If the fares charged for subway rides, a substitute for taxi rides, do not change, what will happen to the total revenue earned by the subway as a result?

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Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

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