37 A Zonal Interchange Is Served By A Local Bus Route And An Express Bus Route The 3345318

(37) A zonal interchange is served by a local bus route and an express bus route. The current travel times and fares associated with the two types of service are: Travel Time (min) Fare Local 50 $0.50 Express 30 1.00 Given the following linear-arc elasticities of demand and that the current transit patronage of 4000 trips per peak period is split “40-60” between the express and local bus services, calculate the effect of raising the express bus fare to $1.50 Local Express Time Fare Time Fare Local -0.02 -0.03 +0.01 +0.02 Express +0.09 +0.62 -0.08 -0.15 (38) For the system of Exercise 37, estimate the effect of expanding the number of express buses and thus reducing the express bus travel time to 25 min. (40) Assuming that the elasticities given in Exercise 38 are shrinkage ratios, estimate the combined effect of raising express bus fares to $1.30 and lowering the local bus fare to $0.40.

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