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Lecture notes Transport economics 1A (TRE11A1) The Economics of Transport R123,33   Add to cart
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Lecture notes Transport economics 1A (TRE11A1) The Economics of Transport
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The document summarises the chapter of transport demand elasticity for your understanding to be quick and effective. The document gives a detailed description of what to expect in the tests and exams

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  • April 14, 2024
  • 55
  • 2023/2024
  • Class notes
  • Mr jacobs
  • All classes

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  • the document provides the demand elasticity

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CHAPTER 4
TRANSPORT DEMAND ELASTICITY

,LEARNING OUTCOMES
UPON COMPLETION OF THIS CHAPTER, YOU WILL
LEARN:
•The importance of understanding elasticity of demand in
the planning of transport services and in the analysis of
such markets
•Elasticity of demand and the three main types of elasticity
of demand relevant to the transport sector
•The major determinants of own price elasticity of demand
for transport
•The significance of own price elasticity of demand and the
revenue of the firm.
2

,INTRODUCTION
-The law of Demand is:
-When the price of any good or service rises
↑the quantity demanded will fall ↓.
It is important to know how much the quantity
demanded will fall, thus how price sensitive
are consumers in the market




3

, INTRODUCTION
•The concept of elasticity




4

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