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If lowering of fares reduces railway's revenues and increasing of fares...

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Economics
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If lowering of fares reduces railway's revenues and increasing of fares increases, then the demand for rail travel has a price elasticity of

Answer & Solution
Correct Answer: Option B
If lowering of fares reduces railway's revenues and increasing of fares increases, then the demand for rail travel has a price elasticity of Greater than Zero but less than One.
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