Loganstilson3869 Loganstilson3869
  • 04-09-2017
  • Business
contestada

If a drop in the price of taxicab fares shifts the demand curve of private limousine rentals leftward, what does this signify

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Kalahira
Kalahira Kalahira
  • 13-09-2017
These two services are substitutes. The demand for one good has an effect on the demand for another good. In this case, the lowered price of the taxi fares will lead to a lowered price for the use of the limo rentals, all else held constant.
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