Suppose an economist found that total revenues increase for the bus system when fares were raised, the conclusion is that the price elasticity demand for subway services over the range of fare increase is inelastic.True/False

True

Explanation:

Price in-elasticity happens when individuals can not possibly shift or change their behaviors or process of Consummation.

In the case of the bus system, people do not have a Better choice from the bus system although the bus system increase bus fares.

If people do not have a better choice or option for there consumption, we say that price elasticity demand for a particular commodity is inelastic .

B.) Appropriates defines the money that is assigned for a particular use.

The government does appropriations during budgeting sessions. This is to ensure that all their projects have sufficient amount to achieve its completion.