Basing on the economic concepts/theories that you have learnt in the course
n 2018, the Kowloon Motor Bus Co. (KMB) in Hong Kong introduced the KMB Monthly Pass, which has enjoyed great popularity. The price is HK$780. Each Pass has a 30-day validity period, and the limit for using the pass to travel on regular KMB routes and Route B1 is ten trips per day and two trips per day respectively. With the exception of KMB routes K12, K14, K17 and K18, the offer covers all KMB and Long Win Bus (LWB) routes, including over 400 KMB routes (jointly-operated routes operated by KMB count) and over 30 routes operated by LWB.
- Basing on the economic concepts/theories that you have learnt in the course, with appropriate assumptions, elaborate on the consumer group that will most likely buy the pass. (Word limit: 150)
- Correspondingly, with explanations draw the individual demand curve of this type of consumers.
