I have the following puzzles
I know that both air travel service(3 hours flight) and trains (36 hours on rails) are operating currently between HKSAR and Beijing.
Suppose that under the following circumstances :
- (a) the general real wage rate of the HKSAR citizens rises;
- (b) a fixed departure tax is imposed by the government no matter the HK people travelled by airplanes or trains;
How could you predict the impact on the change of number of travellers using airplanes (air passengers) and railways (rail passengers) from HKSAR to Beijing? (Hint: be resolved by the Law of Demand)
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