Question

6. Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston:
price business travelers vacationers
$150 2,100 tickets 1,000 tickets
200 2,000 800
250 1,900 600
300 1,800 400
As the price of tickets rises from $200 to $250, what is the price elasticity of demand for (i) business travelers and (ii) vacationers?

Answer 1

Answer:

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Explanation:

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Answer 2

Answer:

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