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Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston: Price Quantity Demanded (business travelers) Quantity Demanded (vacationers

Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston:

 

Price Quantity Demanded (business travelers) Quantity Demanded (vacationers)
$150 2,100 tickets 1,000 tickets
200 2,000 800
250 1,900 600
300 1,800 400

 

b. Why might vacationers have a different elasticity from business travelers?

Jul 11 2021 View more View Less

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