Why vacationers have different elasticity from business, Microeconomics

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Why vacationers have different elasticity from business

Suppose that business travelers and vacationers have the following demand for their airline tickets from new yourk to boston

PRICE quantity dem(BT)tickets quantity dem (vt) tickets
150 2100 1000
200 2000 800
250 1900 600
300 1800 400

a) as the price of tickets rises from 200 to 250 what is the price elasticity of demand (use mid Point)
b) why might vacationers have a different elasticity from business travellers

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Microeconomics: Why vacationers have different elasticity from business

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Microeconomics: Why vacationers have different elasticity from business

Reference No:- TGS038787

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Determine the taxable income

Q : Manuel standard deduction

Q : Is there any price at which trade is mutually agreeable

Q : Problem associated to charitable contribution

Q : Why vacationers have different elasticity from business

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Why vacationers have different elasticity from business

Reference No:- TGS038787

Recent Questions Asked Microeconomics

Q : Determine the taxable income

Q : Manuel standard deduction

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Q : Problem associated to charitable contribution

Q : Why vacationers have different elasticity from business

Q : Itemized deductions and taxable income

Q : Substance of the purchasing power parity concept

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Q : Tax deductions for and from agi

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