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What does demand elasticity refer to in the context of transportation? Group of answer choices Demand...

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Economics

What does demand elasticity refer to in the context of transportation? Group of answer choices Demand elasticity refers to the sensitivity of customers to changes in the speed of transportation services. Demand elasticity refers to the sensitivity of customers to changes in the quality of transportation services. Demand elasticity refers to the sensitivity of customers to changes in the reliability of transportation services. Demand elasticity refers to the sensitivity of customers to changes in price. If demand is elastic, a decrease in price will increase demand or sales of a service, but an increase in price will decrease demand or sales.

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