(a) (1) In this subsection, “operating ratio” means the relationship of common carrier expenses to common carrier operating revenues.
(2) In considering proper revenue under subsection (b)(3) of this section, the Commission shall determine a fair and equitable operating ratio.
(b) In setting a just and reasonable rate for common carriers, and classifications, regulations, and practices relating to common carriers, the Commission shall consider, among other factors:
(1) the inherent advantages of transportation by common carriers;
(2) the need, in the public interest, of adequate and efficient transportation services by common carriers at the lowest cost consistent with furnishing these services; and
(3) the need of revenues sufficient to enable common carriers to provide these services under honest, economical, and efficient management.