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8. An airline company currently sells a package deal for a $100 return ticket and sells 5000 tickets per week. Because of the high demand,

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8. An airline company currently sells a package deal for a $100 return ticket and sells 5000 tickets per week. Because of the high demand, the company raises its fare to $120 per ticket hoping to raise its revenue. If the price elasticity of demand is currently -1.2, what will be the sale of tickets per week and how will this affect total revenue? What conclu sions do you draw from this exercise

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