Ooredoo12:07 PMO 55% 4( NotesQuestions:1/ Explain why the demand for the bridgeis likely to be price-elastic.2/ If the Swedish government estimatesthat the price elasticity is -1.4, calculatethe effect on traffic using the bridge,stating any assumptions.

Bridge is likely to have some substitutes such as roads,airways,waterways. A good that has…

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Ooredoo 12:07 PM @ 55% 4 Notes Questions: 1/ Explain why the demand for the bridge is likely to be price-elastic.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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