Transport operators in Belize received permission to increase their fares 15 percent, and they anticipated that revenues would increase by about 15 percent. When the 15 percent increase was enacted revenues increased by only about 5 percent. What can you infer about the elasticity of demand for transportation? What were operators assuming about the elasticity of demand

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A: The initial elasticity (PED) and (PES) calculations are unreliable.

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