Travel by air and travel by intercity bus are substi

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tutes, so a decline in airfares will shift the demand for bus travel to the left, resulting in lower bus fares and fewer bus trips taken. Travel by air and the use of resort hotels are complements, so a de

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cline in airfares will shift the demand for resort ho

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tel rooms to the right, resulting in higher hotel rates and an increase in the number of rooms rented. (LO3)