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5. Law of Demand Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston: Price Quantity Demanded by Business Travelers Quantity Demanded by Vacationers (Dollars) (Tickets) (Tickets) 150 2,100 1,000 200 2,000 800 250 1,900 600 300 1,800 400 As the price of tickets rises from $250 to $300, the price elasticity of demand for business travelers is 0.45 , and the price elasticity of demand for vacationers is 3.33 , using the midpoint method. Therefore, the demand for airline tickets in this price range is more * elastic for vacationers because business travelers are more # sensitive to changes in price. *Untitled - Notepad X File Edit Format View Help Blank 1: My answer is: 0.45 The other choices are: 3.33, 0.30, 1 Blank 2: My answer is: 3.33 The other choices are: 0.45, 0.30, 2.20 Blank 3: My answer is: more The other choices is: Less Blank 4: My answer is: more The other choices is: Less Ln 4, Col 55 100% Windows (CRLF) UTF-8