Business, 21.02.2020 03:35 mia7791

As the price of tickets rises from $250 to $300, the price elasticity of demand for business travelers is , and the price elasticity of demand for vacationers is , using the midpoint method. Therefore, the demand for airline tickets in this price range is elastic for vacationers because business travelers are sensitive to changes in price.

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As the price of tickets rises from $250 to $300, the price elasticity of demand for business travele...