CTA revenues lower than expected

The Chicago Sun-Times reports:

CTA fare revenues for the first four months of the year are less than expected, with seven-day passes taking the biggest hit since the agency hiked the cost of its fare passes, CTA officials revealed Wednesday. In mid-January, the price of the CTA’s seven-day pass jumped 22 percent, from $23 to $28, although one-day and three-day passes increased by even larger percentages.

The law of diminishing returns.