Demand and supply & elasticity Consider the data in table 1 for the demand and supply for an Airline for its return economy class seats on Airbus A380 on popular Adelaide to London route during shoulder/peak period.

Airfare Demand Supply $500 440 100 $700 430 150 $900 420 200 $1100 400 250 $1300 380 300 $1400 350 350 $1500 300 400 $1600 250 440