Unformatted text preview: public transportation and an individual’s higher income. A consumer might choose to forgo using his own transportation when they have less income in order to reduce private transportation’s related expenses such as car insurance, gas, service repairs, etc. On the other hand, if the consumer’s real income increases, he would be able to afford private transportation and the consumption of public transportation would decline....
View Full Document
- Fall '08
- real income increases, Edgar Browning