Usually when a company does something outrageous like increasing its products prices, the consumer has the choice to switch to the cheaper product, an advantage of the Free Market. However MTA, being a monopoly, has the advantage of no competitors. A Monopoly is an organization that has total control over its market, this includes control over pricing. So when the M.T.A. raises its prices the consumers in New york have no choice, but to pay it.
Here are a few of the price jumps that will take effect May 31 2009. The regular fare of $2.00 will now be $2.50, one-day pass will jump from $7.50 to $9.50, 14-day pass from $47 to $59, and the monthly from $81 to $103.
Also 1,100 Blue collar jobs will be cut, and 1,000 white collar jobs will be cut. Needless to say people are outraged at these hikes, especially if you are a college student, or have a job that requires you to take the bus, or train. What can you do though if you go to school, or in your job is in Manhattan. MTA is hands down the cheapest way to commute even with these price hikes, and if they jumped again they will still be the cheapest way to travel around New York.
